Virender Kumar, SP (Hq) and in-charge of Economic Offences Wing, giving the details, said that preliminary inquiries revealed that the accounts and stock register of the institution were not properly maintained and the accused persons had connived with each other to embezzle the funds.

He informed that a case of fraud and cheating had been registered against three persons, including a property dealer, for selling off a plot measuring 400 sq yards not owned by them to one Bhola Nath, a resident of Madhopuri locality. The accused entered into a written agreement but subsequently failed to get the sale deed registered despite the persistent requests of the buyer.

According to Kumar, inquiries made by the buyer with the Revenue Department disclosed that the purported sellers were not the real owners of the plot. A case under Section 420/467/468 had been registered in P.S. Div. No.3 and further investigations were in progress.