Panaji: A significant development has emerged in the alleged ₹11.28 crore co-operative society scam in Goa, where the North Goa District and Sessions Court has granted permission to the Economic Offences Cell (EOC) to obtain handwriting and signature samples of the accused.
The move is expected to strengthen the investigation into suspected financial irregularities linked to forged documentation and fraudulent loan approvals.
Forensic Handwriting Verification and Fake Loans
The case is connected to the Ashtagandha Urban Credit Co-operative Society, where former office-bearers and others are accused of sanctioning fake loans and conducting illegal financial transactions using forged records. Investigators have found multiple documents containing handwritten entries and signatures believed to be linked to the accused individuals.
Following the court’s order, the collected samples will be sent to a forensic laboratory for scientific analysis. The handwriting and signatures will be compared with questioned documents recovered during the investigation to determine their authenticity. This step is expected to play a crucial role in establishing whether the financial records were genuinely prepared by the accused or manipulated.
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Internal Audit Flags Collusion and Misappropriation
The case came to light after the current management of the co-operative society flagged discrepancies during an internal audit of accounts and loan records. A formal complaint was subsequently filed, alleging that former office-bearers had colluded to sanction fraudulent loans and misappropriate funds belonging to the society.
Based on the complaint, police registered offences including cheating, forgery, criminal breach of trust, and criminal conspiracy. The allegations also suggest that the actions were carried out in a manner that directly harmed depositors’ interests, raising concerns over the safety of public savings.
Racket Remand Status and Verification Procedures
According to sources, one accused has already been arrested in connection with the case, and further investigation is underway to determine the role of other individuals involved. Authorities are also examining whether the scam was limited to internal operations of the society or if it involved a wider network of external actors.
Investigators believe that the forensic handwriting examination could prove decisive, as several financial documents contain disputed signatures and handwritten entries. If discrepancies are confirmed, the evidence may significantly strengthen the case and potentially render multiple transactions illegal.
Institutional Safety Concerns and Financial Mapping
The EOC is also reviewing the loan sanctioning process to determine whether proper verification procedures were followed. Early findings suggest that several loans may have been approved without adequate due diligence, leading to serious financial stress on the institution.
The scam has triggered concern among depositors and members of the co-operative society, many of whom are now questioning the financial stability of the institution and the safety of their savings. The situation has created uncertainty within the local community linked to the society’s operations.
Officials have indicated that further rounds of document examination and questioning of suspects may follow in the coming days. The investigation remains at a preliminary stage, but authorities believe that more revelations could emerge once forensic reports are received.
Meanwhile, enforcement agencies are intensifying efforts to map the full extent of the alleged financial network behind the scam. The probe aims to identify all individuals involved, both directly and indirectly, and to assess the total scale of the suspected fraud.
With forensic analysis now approved, investigators are hopeful that scientific evidence will help clarify key aspects of the case and accelerate progress in uncovering the full truth behind the ₹11.28 crore alleged co-operative bank scam in Goa.
