Udupi: Cooperative society fraud; Prez taken into custody

Udupi: Police officials have taken the President of Kamalakshi Multipurpose Cooperative Society into custody in connection with a scam that is alleged to have taken place in the Udupi branch.

President of the cooperative society, B.V. Lakshminarayana and others have been accused of cheating depositors of  over Rs 70 lakh.

The depositors claimed that a few mortgaged properties have been fraudulently sold to the family members of the board members.

Further investigations are underway.