Multi-Crore Fraud at Vadakara-Based Kalcos Society; Congress, League Involvement Alleged

Vadakara: A multi-crore fraud has come to light at the Kadathanadu Labour Contract Cooperative Society (Kalcos), headquartered in Vadakara and established under the leadership of the Congress and the Muslim League. Complaints have emerged that the society accepted lakhs of rupees in deposits from numerous individuals by promising interest rates higher than those offered by regular cooperative institutions — without issuing receipts. Though the League-Congress leadership has sought to distance itself from the society, their involvement in its operations is plainly evident.

The society functioned with the support of MLA Parakkal Abdullah and others. Investment mobilisation programmes were organised under League leadership. A voice message left by Ibrahim Kutty Haji — who died after setting himself on fire outside the Kozhikode DCC Secretary's residence over unrecovered investments — has now surfaced, in which he states that society officials were responsible for his death. He says he had invested over ₹57 lakh with the society and that ₹75 lakh, including profit share, haven't been returned.

The message also alleges that he paid ₹11 lakh separately to director Raneesh. In the statement he gave to doctors upon being admitted to hospital after the self-immolation attempt, he again repeated that ₹75 lakh was owed to him. Kalcos had collected crores in deposits without enrolling in the Cooperative Deposit Guarantee Scheme.