Overview

• Searches on July 17 targeted over 15 locations linked to the Shushruti Co-operative Society fraud
• Operations focused on three co-operative banks and their promoters, including founder N. Shrinivasa Murthy and his family members
• Investigators uncovered more than 20 high-value properties that escaped detection under depositor protection rules and were purchased with laundered funds
• Authorities allege insiders misappropriated over Rs 100 crore from more than 15,000 depositors through unsecured loans that turned into NPAs
• The directorate continues its PMLA-based probe, tracing diverted funds and preparing to attach assets to compensate defrauded depositors