Cubbon Park police raid EPF Credit Co-op over financial fraud

Bengaluru: Cubbon Park police on Tuesday raided the houses of two accused in the EPF Staff Credit Co-operative Society financial misappropriation case.

Hakay Akshay Machindra, DCP (Central), said the raids were carried out based on a court-issued search warrant at the residences of CEO Gopinath and his staff Lakshmi, both of whom were arrested soon after the FIR was filed.

"We will not disclose more details since the case is under investigation," the DCP said.

The EPF Staff Credit Co-operative Society, located on Rajaram Mohan Roy Road, was among several premises searched, including houses in RR Nagar, JP Nagar, and Anjanapura. Police seized seven cars, 12 two-wheelers, and gold ornaments worth crores, sources said.

An FIR was registered on November 1 against Gopinath and accountant Jagadish following a complaint by Muralidhara CJ, president of the society. Muralidhara alleged that scrutiny of bank accounts, transaction records, and administrative activities revealed illegal transfer of funds from certain accounts.