Palasbari police arrest ex-cooperative chief over Rs 5-crore scam, threats to victim and witness

A CORRESPONDENT

AZARA: Palasbari police arrested Siraj Ali, former President of the Rani Bholagaon Gaon Panchayat Cooperative Society Ltd, on Tuesday in connection with allegations of misappropriation of more than Rs 5 crore deposited by around 3,000 customers under the society's small savings scheme. According to a press statement issued by Palasbari police on Wednesday, Ali was arrested following allegations of threatening a victim and a witness in Palasbari Police Station Case No. 171/2026, demanding money, and conspiring to implicate the person in a false case. The arrest comes amid prolonged protests by customers of the cooperative society's small savings scheme, who have alleged that more than Rs 5 crore of their deposits remain unpaid.

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