n a significant development, Padikkal Kandy Bindu (53), the former Secretary of the Unnikulam Women’s Co-operative Society in Balussery, has been arrested on charges of financial fraud amounting to approximately Rs10 crore. The arrest occurred on Wednesday, after Bindu, who had already been suspended, was accused of misappropriating funds from the society’s accounts.
The Balussery police registered the case and began an inquiry following complaints from several customers of the society. According to the allegations, Bindu took out loans in the names of account holders and withdrew their investments by forging documents. The Unnikulam Women’s Cooperative Society, which has been under the control of the Congress party for over three decades, became the focus of the investigation after complaints were filed by at least three FD account holders. However, police sources suggest that more complaints are expected to surface, indicating the possibility of a wider scam.
The fraud is believed to have started in 2019, and irregularities first came to light earlier this year. Upon discovery of these financial discrepancies, Bindu was placed under suspension before her eventual arrest.
“We have registered three cases based on the complaints from FD account holders. We are in the process of cross-checking more documents for further details,” said Surendran, the Sub-Inspector (SI) at Balussery Police Station.
As the investigation continues, more evidence and complaints are expected, which could uncover further illegal activities linked to Bindu’s role at the society.