ED arrests accused in Loni cooperative society case
The Enforcement Directorate has arrested Ravi Shankar Tiwari in connection with a ₹10,314 crore misappropriation case involving the Loni Urban Multi State Credit and Thrift Cooperative Society. The accused allegedly routed illicit funds through various entities linked to the SAGA Group.
Why it matters
This case represents a significant crackdown on financial fraud within cooperative societies, which often impact millions of small-scale investors.
The Enforcement Directorate (ED) has arrested an accused in connection with the Loni Urban Multi State Credit and Thrift Cooperative Society (LUCC) case involving alleged misappropriation of about ₹10,314 crore belonging to over 30.51 lakh investors.
The article reports on legal proceedings and official agency statements.
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