THIRUVANANTHAPURAM: The new cases of touts within the Janasree Microfinance Company swindling money from banks using the documents of its members are causing headaches to the law enforcement agencies. While a woman, Sangeetha Kumari, was arrested by Vanchiyoor police for duping lakhs of rupees from many members, around 80 victims who were cheated to the tune of around Rs 1 crore by the office-bearers Venjaramoodu branch of Janasree last year are still awaiting justice.
As per sources, similar incidents have happened in Neyyatinkara where matters were handled by Janasree top brass before it reached the police. The suspects who are office-bearers of Janasree Microfinance Company get loans from nationalised bank to their members.
However, they inflate the amount mentioned in the loan requests which demand a few thousand rupees. Loans worth lakhs are taken from banks against the guarantee of the victims’ property and the touts swindle money and escape. When the banks take action for non-repayment of loans, the victims come to know about the cheating.
“The probe in cheating cases is generally the lengthiest. So it took several months for us to assess the losses accurately. Now recovery has to be made from the suspects in the Venjaramoodu case, who claim they have spent money,” said a police officer.
As per the explanations given by Janasree officials, grassroot members need not panic as banks cannot attach their properties. The beneficiaries of microfinance are on an inter-pay agreement. While taking loans, each one stands as a guarantee for another person.
