Co-op housing society secretary arrested for siphoning off Rs 35.37L

Coimbatore: The town crime branch (CCB) police on Saturday arrested a 45-year-old guy for siphoning off Rs 35.37 lakh from the financial institution accounts of GV Residency Association and GRD Residency Association. N Dhandapani from Kannan Street, who is the secretary of the PSG Co-operative Housing Society, was once arrested after the secretary of the GV Residency Association and GRD Residency Association, CR Swaminathan, filed a complaint towards him.
In connection with the case, police have additionally registered a cheating case towards the special officer for PSG Co-operative Housing Society, P Sundarraju, who is absconding.

"PSG Co-operative Housing Society was started with the aim of providing housing facilities for the employees of the PSG Institutions in 1985. The society promoted housing projects at Uppilipalayam near Singanallur and Vilankurichi. Residents in Uppilipalayam started GV Residency Association and residents of Vilankurichi started GRD Residency Association in 1991. But, they were not registered. I was elected as the secretary of the two associations and GR Karthikeyan was elected the president. The associations were not functioning under the PSG Co-operative Housing Society and had separate bank accounts," Swaminathan's complaint said.


GV Residency Association had opened a checking account for Sri Dhana Ganapathi temple located there in November 1999. "V Rajan took charge as the president of the associations in 2000. Dhandapani, who was appointed as the secretary of the PSG Co-operative Housing Society, used to manage the bank accounts of both the associations and the temple. I was busy with work and was not able to monitor the bank transactions," Swaminathan said.


"Sundarraju was appointed as a special officer for PSG Co-operative Housing Society in July 2012. Dhandapani and Sundarraju hatched a criminal conspiracy and transferred Rs 35.37 lakh from the accounts of the two unregistered associations and the temple to their personal accounts in various instalments from October 13, 2012 to October 21, 2016. We came to know about the misappropriation of funds only recently," the complaint said.


Based at the complaint, CCB police arrested Dhandapani on Saturday and remanded him in judicial custody. Police have registered a case underneath Sections 120 B, 409, 468, 471 and 420 of the Indian Penal Code.


Co-op housing society secretary arrested for siphoning off Rs 35.37L Co-op housing society secretary arrested for siphoning off Rs 35.37L Reviewed by kailash soni on February 12, 2018 Rating: 5
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