Credit society scam: Three sent to magisterial custody

Yavatmal: The three persons accused in the multi-crore credit society scam have been sent to magisterial/judicial custody on the expiry of their extended police custody. However, the police allegedly gave special treatment and facilities to the trio before sending them to jail.
The Wadgaon Road police, which registered the FIR, have shown extraordinary leniency to the accused, and seem to be interested in hushing up the matter.
When contacted for the progress of investigation, PSO Balkrishna Jadhav told TOI on Thursday that the matter had been handed over to the Economic Crime Branch wing of the LCB (Local Crime Branch) and refused to divulge any information. Surprisingly, LCB police inspector Sanjay Khujalwar said he hadn’t received any communication in this regard and pleaded ignorance about the case.
The enquiry made by this scribe reveals that there is a murky affair beyond what was told so far in this multi crore scam.
President of the Sarva Seva Credit Society Purushottam Kakade is the main accused. He was earlier manager of the Yavatmal ZP Employees Credit Society. His secretary Ashok Petewar, one of the co-accused, is an employee of the ZP staffers’ society, and they have proximity with sitting president of the latter society Rajudas Jadhav, who is a primary schoolteacher in the Yavatmal Zilla Parishad.
The three colluded to use the Rs70 lakh kept by the ZP staffers’ society as fixed deposit in the Sarva Seva society headed by Kakade in 2013-15. Kakade’s wife Usha is the managing director of the society and is now wanted by the police. All their deals violated RBI norms for credit societies. Also, Kakade’s credit society was not audited for last three years.
When contacted, Rajudas confirmed having purchasing the land from Kakades and said that he would recover Rs70 lakh from Kakade’s credit society in two months, but failed to explain how he would recover the amount from a bankrupt credit society.