CBI takes over Kerala Rs 65-crore co-op deposit scam probe

The CBI has taken over the probe into the alleged Rs 65-crore Viswadeepthi deposit scam after a Kerala High Court order. The case spans 335 complaints across districts and points to suspected interstate financial fraud.Image used for representational purposes onlyKochi,Oct 9, 2026 13:18 ISTThe CBI has taken over the investigation into an alleged Rs 65-crore investment scam involving Viswadeepthi Multi State Agri Co-operative Society Ltd after the Kerala High Court ordered a central probe. Officials said the agency has begun registering the case and collecting records from state investigators.The case relates to allegations that the society collected deposits from the public by promising interest rates of 12 to 14.5 per cent, but later failed to return the money, including the principal amounts. The High Court ordered the transfer of the probe to the CBI after depositors sought its intervention, citing the number of cases, the amount involved and the alleged interstate nature of the transactions.CBI officials said the agency's Anti-Corruption Unit in Kochi registered an FIR on September 29 under various provisions of the Banning of Unregulated Deposit Schemes Act and the Bharatiya Nyaya Sanhita for alleged criminal conspiracy and cheating. The FIR was filed before the Special Court for BUDS Act cases in Kochi. The case names 12 accused, including the society and 11 of its board members and promoters.According to the FIR, the society, headquartered in Coimbatore in Tamil Nadu and operating branches in Kerala, collected deposits between April 2023 and November 2024. Officials said the total amount involved in the alleged fraud is estimated at around Rs 65 crore. A total of 335 criminal cases had been registered at various police stations in connection with the allegations and were later transferred to the State Crime Branch and the Economic Offences Wing for investigation, officials said. Of these, 110 cases were registered in Thrissur district, while the rest were registered in Malappuram, Kozhikode and Wayanad districts.CBI officials said they have started receiving investigation files from state agencies and will carry out a detailed probe. The accused will also be summoned for questioning soon, they added. In all, the case now before the CBI concerns an alleged Rs 65-crore deposit scam, 12 accused and 335 cases registered across several districts in Kerala. - Ends