Angamaly Urban Cooperative Society loan scam: Crime Branch makes one more arrest

The Crime Branch investigating a loan scam at the Angamaly Urban Cooperative Society has made another arrest, this time of the society’s secretary, Biju Jose K. The investigation has revealed that fake loans were sanctioned using title deeds of properties without the knowledge of the original title holders. More arrests are expected as the fraud involved director board members and officials. The investigation is complex and time-consuming, involving verification of documents and tracking down original title holders. The Investors Protection Committee is demanding action against all accused and attachment of their properties to refund investors. The case involves forgery, cheating, and breach of trust, with several governing committee members and employees implicated.