The chairman, secretary, and board of trustees of the Dnyanoba Co-operative Credit Society are under investigation for financial embezzlement amounting to Rs 29.06 crore. Mukundwadi police station has registered a case, and the economic offence cell is actively probing the matter.
The accused allegedly attracted substantial investments from the public, promising lucrative returns. Following a society audit, the embezzlement was uncovered.
The society's chairman, Dhananjay Dnyanoba Sawant, has been on the run since the case was filed. After receiving information about his presence in the city, the police arrested him. Sawant has been remanded in police custody until November 28, and ACP Dhananjay Patil is leading further investigations.
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