Cooperative victims living a life of deprivation

BY PHADINDRA ADHIKARI,Lekhnath, Oct. 22: Bir Bahadur had a dream of building a small house by purchasing a small plot of land in Kachhad of Pokhara Metropolitan City. He had saved Rs. 2.3 million after working for 13 years in Saudi Arabia. 

However, that amount was insufficient even to buy a plot in Pokhara. After hearing that Suryadarshan Savings and Credit Cooperatives 

offers attractive interest rates, he had deposited all his life savings there three years ago.

After a year of saving the money, Bir Bahadur went to the cooperative with his wife, Bhagwati. However, upon arriving at the office they found that it had been shut down. 

Bhagwati said that their all savings and earnings disappeared into thin air, causing her husband’s death from heart attack.

Bhagwati, who has been raising her son and daughter by doing household chores at others’ home, has been in a state of despair since her husband's death. Meanwhile, she is also participating in the movement of the cooperative's victims.

Police investigations have revealed that the cooperative employees had used various schemes to attract customers. 

They had even taken huge amount of commission for brining clients who deposited large amounts. 

They even used to find out potential clients. After getting a tip that Sanukaji Bajimaya from Nadipur of Pokhara-3 had money from selling a house in Mohariya, the employees of the Suryadarshan began to call repeatedly. Accountant Srishti Manandhar frequently called, enticing him with a promise of 14 per cent interest if he deposited his money.

Abhinandan, son of Sanukaji, said, “How did they find out we had money? My parents had deposited a total of Rs. 11.5 million in the Suryadarshan. Of that amount, Rs. 8 million was deposited in Sanukaji’s name, Rs. 2.5 million in his wife’s name Rachanadevi and Rs. 1 million in his daughter’s name.” He said after receiving the interest amount at 14 per cent for two years, the cooperative got shut down.

 Sanukaji and his family have also been participating in the movement of the cooperative's victims. After losing the money, Rachanadevi has been afflicted with high blood pressure. 

Dal Bahadur Gurung from Bagar of Pokhara-1 repeatedly heard from his relatives who had deposited Rs. 5 to 6 million that they were receiving 15 per cent interest at the Suryadarshan. 

Upon hearing it, he also became tempted and deposited Rs. 2.6 million. The interest reached his home over two years. After that, his hope of earning interest went into vain and had been participating in the movement of the cooperative's victims. 

Kiran Shrestha, coordinator of the Suryadarshan Struggle Committee, claimed that the cooperative’s management deceived people by using various tricks to collect savings and share capital. 

He said, “They were collecting money with the lure of interest rates of up to 20 per cent. On birthdays, the cooperative would send cakes home, bring interest to our doorsteps and entice people with attractive interest once they knew about the money.” 

A total of Rs. 1. 37 billion was misappropriated from 18,700 depositors at Suryadarshan. From small business owners to those wishing to buy homes and plots or who deposited money after selling land, many are now in distress. After the cooperative shut down two years ago, depositors have filed complaints with the police. 

In the ongoing fraud case against Suryadarshan, 60 people have been named as defendants, but only nine have been arrested so far. Among those arrested, three are currently in custody and six are detained for further investigation.

Suryadarshan Savings and Credit Cooperatives established in 2006, is reported to have transferred Rs. 55.8 million to Gorkha 

Media. Former Home Minister Ravi Lamichhane is currently in police custody in Kaski for investigating the fraud case and organised crime. 

Coordinator Shrestha said that the political parties have also become involved in influencing the investigation, leading to protests. He said, “Those who claim to fight against corruption should not be protesting to obstruct the investigation into the cooperative fraud.” 

Meanwhile, the cooperative's victims had repeatedly sought justice by submitting memoranda to Lamichhane when he was Home Minister and at other times.

Shrestha said, “We have no party left to appeal. If he is acquitted by the court, he could become a minister or even the Prime Minister. If the investigation is not conducted, it will be injustice for us.” A special general meeting of Suryadarshan is scheduled for November 23. 

Plans are underway to reopen the cooperative, which has been closed for two years, despite some directors being absconding and others held in custody.