BENGALURU: Victims of the Kanva Co-operative scam, in which over 23,000 depositors across the state, are estimated to have lost nearly Rs 1,500 crore have reiterated their plea for a CBI probe to the State government. They had approached the previous government too with the same request, but only got assurances.
Kanva Scam Claimants Welfare Forum accompanied by North East Teachers Constituency MLC Shashil G Namoshi met Cooperation Minister KN Rajanna on July 20, calling for the inquiry to be handed over from the Special Investigative Team of the CID to the CBI.
The forum’s administrator, Muralidhar Lakanna, said, “Only one interim chargesheet has been filed in 45 months of investigation. It is a collective failure to apprehend the perpetrators. Justice remains elusive for thousands suffering without resources to treat their medical conditions. Some are on the brink of starvation too.”
The scam dates back to 1985 with the group goading the public to deposit money in the form of RDs and FDs in the Sree Kanva Souhadra Cooperative Credit Limited, with an assurance of 12 per cent rate of interest or doubling of deposit in 5.5 years. Gullible public across the state had deposited sums ranging in lakhs, and the scam came to the fore in October 2019, when some of them tried unsuccessfully to withdraw their money. The group diverted the deposits to launch numerous ventures, bearing the Kanva brand name.
The previous Cooperation Minister ST Somashekhar had assured TNIE in January 2023 that the case would be handed over to the CBI due to public demand, but it was not done.
Lakanna had himself deposited Rs 13 lakh between 2016 and 2018 through FDs. “I have not got a single rupee yet,” he rued.
Among the financial victims on behalf of whom the forum has been waging a relentless battle is Vimala, a resident of Rajajinagar, whose husband - a tailor, passed away two years ago. He had deposited his life’s savings of Rs 5 lakh in 2018.
“She desperately needs money to help her ailing son, who has just completed his SSLC, study further. Vimala has another child and she struggles to meet ends daily with her a meagre salary of Rs 10,000 a month,” he added.
BJP MLC Namoshi said a good chunk of depositors from Kalaburagi had lost their hard-earned money and approached him for assistance, following which he facilitated the recent meeting with the minister.