Kannur traders cooperative probed for allegedly swindling over 1cr
A traders-run cooperative in Kannur, Kerala (Thalassery Vyapari Vyavasayi Welfare Sahakarana Sangam) is being probed for allegedly swindling over ₹1 crore from depositors.
The secretary, Jojish, promised high returns but disappeared after collecting money.
Sources familiar with the investigation suspect the scam could be much bigger since only a few victims have spoken up so far.
Depositors report 17L to 56L losses
Depositors say they got bond documents and receipts that weren't even in the society's official records.
Losses reported range from ₹17 lakh to nearly ₹56 lakh per person between 2022 and 2026.
The office is now shut while police search for the accused and dig through finances.
The society says deposits made through proper channels are safe and promises to help with the investigation.