look news india
Mumbai: The Enforcement Directorate (ED) has seized properties worth Rs 1000 crore of Gyanaradha Multistate Cooperative Society scam accused Suresh Kute in Mumbai, Sambhajinagar, Beed, Jalna. Koote, who was in jail in Beed, took the investors' money to Hong Kong.
In the lure of higher interest on investments, traders and general account holders in Paithan taluk have started Gyanaradha Multistate Company. The bank has approximately Rs. More than five crores were collected. But when the money was not returned after the expiry of the period and the Paithan branch was closed, the account holders filed a complaint against Chairman Suresh Kut along with his wife Archana and the Board of Directors.
Later the police arrested Suresh Kute and another manager Ashish Patodekar from Pune.
ED officials interrogated Suresh Kute for three days in Beed jail after getting permission from the court before ED raids on various branches of Gyanaradh. Meanwhile, it was revealed that the money of the corrupt people had been taken to Hong Kong. Now ED has taken action against Kute's properties located in Mumbai, Sambhajinagar, Beed, Jalna. So far, property worth Rs 1.97 crore has been seized.