Two Arrested in 26-Year-Old Raipur Housing Loan Scam, EOB Moves to Close Long-Pending Case
Raipur: The Economic Offences Bureau (EOB) on Wednesday arrested two men in connection with a 26-year-old housing loan embezzlement case. The accused include Thawardas Madhwani, then President of Adhunik Grih Nirman Sahakari Samiti Maryadit Raipur, and Basant Kumar Sahu, former Housing Supervisor at Sahakari Awas Sangh Maryadit Raipur.
The case, registered as Crime Number 19/2000, involves allegations of criminal conspiracy, cheating, and forgery under various sections of the Indian Penal Code and the Prevention of Corruption Act, 1988.
Investigations revealed that between 1995 and 1998, the accused allegedly sanctioned housing loans worth ₹1.86 crore in the names of 186 cooperative society members. Each member was reportedly granted ₹1 lakh for house construction under a government scheme.
Physical verification of the sites listed in the loan records—Gram Raipura and Pandrikancha—showed that no houses were constructed. Additionally, the listed borrowers could not be traced at these addresses.
The bureau found that the accused used forged documents and fake certificates to embezzle funds. Basant Kumar Sahu reportedly issued false completion certificates for different stages of construction.
The late A.E. Gabriel, then Regional Officer of Madhya Pradesh Sahakari Awas Sangh, also allegedly forwarded loan applications without proper verification. Two other accused named in the case have since passed away.
The arrested individuals had been evading authorities and living in hiding, despite multiple notices. Following their production in court, they have been remanded to police custody until 25 March 2026. Bureau officials said they are prioritising the resolution of long-pending cases to ensure timely legal action.
