₹70-crore fraud uncovered at EPFO credit society, CEO & one employee arrested
Bengaluru Police arrested EPFO Staff Credit Co-operative Society CEO Gopi and an employee, Lakshmi Jagadish, for a ₹70-crore fraud. The fraud came to light after the 61-year-old credit society stopped paying monthly interest to its members about three months ago. A significant portion of investors' deposits were missing from the society's account, with only ₹3 crore accounted as disbursed loans.