Thiruvananthapuram: Audit details have surfaced incriminating Aniyoor Jayakumar, president of Chempazhanthy Agricultural Improvement Cooperative Society, and his wife Ambika Devi, in irregularities detected at the society. 

Major discrepancies were identified in the chit funds conducted by the bank. The offenders are known to have done undue favours to those who usually defaulted on their payments. Ambika Devi was a member of the governing council of the society.  

The society incurred losses by giving almost 11 pc interest money to people including the defaulters who had withdrawn their deposits during the time period when the fraud was committed.

It is known that Jayakumar was aware of all the leniencies that were being provided to his ‘allies’. The law allows only C-class members to join the society chit funds. However,  several ineligible members were also inducted into the fray of things through manipulation. The authenticity of the people involved in the proceedings has come under scrutiny.

Proofs of bogus entries via various chit accounts have surfaced further adding to the ambiguity.

Several anomalies were identified while verifying the bank account of Ambika Devi. Suspicious transactions have been spotted.

No ledgers/proofs were available regarding the individuals who had already availed the chit funds for their uses. For example, an individual named Suresh Aniyoor had deposited Rs 1,79,765 Rs in Ambika Devi’s account. The records clearly suggest that those were actually chit funds. But when an audit was conducted, it was found out that the particular person had defaulted on all payments to the society in connection with the chit. Apparently, there are not many records available on the person as well. 

In the inspections, it was found out that Ambika Devi had used the money sent in by Suresh to pay off the loans taken by Ramachandran Nair, who is Jayakumar’s brother-in-law. This is said to be just one among the many fund misappropriations conducted by the couple. The officials concerned are looking into the matter seriously.