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.
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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.