Nagpur: The Economic Offenses Wing (EOW) on Wednesday arrested Congress leader and former corporator Ravindra alias Chhotu Bhoyar in connection with the Poonam Urban Credit Cooperative Society scam. Bhoyar was apprehended from his residence on Wednesday morning, adding to his growing legal troubles.
Bhoyar, who served as a director of the Poonam Urban Credit Cooperative Society, is accused of siphoning off ₹8 crore in deposits during his tenure. Investigations revealed that loans were disbursed under fraudulent schemes, including in the names of deceased individuals. Plots of land were sold after creating layouts on behalf of the society, and irregularities surfaced in the allocation of loans to multiple individuals.
The cooperative bank declared bankruptcy, prompting an audit of its financial records for the 2016-2019 period. At that time, Bhoyar was no longer on the board of directors. However, four other individuals were also implicated in the financial fraud case registered during the audit.
The newly constituted board of directors decided to expand the scope of the investigation to include records from 2010. The findings pointed to Bhoyar as the mastermind behind the fraudulent activities. A case was subsequently registered against him based on a government auditor’s report.
The arrest of Bhoyar is a significant development in the ongoing investigation into one of Nagpur’s most high-profile cooperative society scams. Further inquiries are underway to identify other individuals involved and recover the embezzled funds.