CBI likely to investigate Anand Appugol scam

Team Udayavani, Jul 6, 2018, 10:10 AM IST

Belagavi: The troubles of the investors at the Sangolli Rayanna Cooperative Society are mounting. Owned by movie producer Anand Appugol the society shut shops without restoring the Rs 320 Crore in deposit. Holding challenges and thumping on the courts for justice, the depositors are yet to recover their money. 

Presently, the officials are considering giving over the case to the Central Bureau of Investigation (CBI). Deputy Commissioner S Ziyaullah said that a discussion would be held with Police Commissioner Dr. D C Rajappa soon. 

A large number of depositors lost their hard earned money in the scam. A few protests and complaints have been submitted in such manner. 

In September 2017, Belagavi police arrested Anand Appugol, Chairman of the Sangolli Rayanna Cooperative Society, on charges of neglecting to reimburse cash to the depositors. After an enquiry, Appugol was filed for breach of trust, infringement of provisions of the Cooperative Act among different charges.