Pune Police Arrest Jitendra Kandare From Indore In BHR Scam Case
Mubarak Ansari
Pune, 29th June 2021: The economic offences wing (EOW) of Pune city police has arrested main accused Jitendra Kandare of Jalgaon in the Rs 1200 crore scam related to Bhaichand Hirachand Raisoni (BHR) Multistate Cooperative Credit Society. He was detained around 9 pm in Indore, Madhya Pradesh.
In the FIR his name is specifically mentioned as the main culprit who has formed a racket and duped fixed deposit (FD) holders and the Society. The Society allegedly attracted depositors by offering 13 per cent interest rate on fixed deposits. People deposited crores of rupees in the FDs but didn’t get the assured returns.
Based on a complaint from retired teacher Ranjana Ghorpade (65), Deccan Gymkhana police station registered an FIR in November last year. Police arrested some accused while Kandare was absconding.
Acting on a tip-off received by DCP (EOW) Bhagyashree Navtake, a team reached Indore and nabbed Kandare who was hiding there. He is being brought to Pune.
There are over 80 cases registered in police stations across Maharashtra and the scam has been pegged at Rs 1200 crore. In Pune, the first FIR was registered at Kothrud police station in 2015 based on a complaint from Mukund Badve of Rambaug Colony.
In 2015 Kandare was appointed as liquidator in BHR society by the Central Registry. Previously he was working as District Dy. Registrar of Co. Op. Societies which is a Class I gazetted post. In his anticipatory bail application, Kandare contended that in some matters Commissioner of Cooperation and Registrar of Co. Op. Societies, Maharashtra State had sanctioned matching of fixed deposit receipts with the loan in 2009. He had floated a scheme of matching of fixed deposits but it is totally misinterpreted by the complainant. Only seven properties out of 53 properties of BHR society have been sold by him in public auction; that too only after getting bid more than expected price, he had submitted to the court.
Police said that Kandare instead of helping the investors allegedly cheated them by conspiring with other accused and preparing forged documents of movable and immovable assets of the BHR Society. The accused had created a fake website of BHR Society and they mentioned false information about sold properties on the website. They also tried to scare the investors by saying the Society had gone bankrupt.
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