Udupi, Dec 29, 2022: The CEN police of Udupi have arrested B V Laxminarayana, the Chairman of the Kamalakshi Co-operative Society of Udupi who is facing charges of cheating several hundreds of depositors of crores of rupees.

The accused was arrested at Matapady near Brahmavar and is presently being questioned by the police.

It has been gathered that the co-operative society had collected over Rs 100 crore deposits from customers. It may be recalled here that several customers of the society had recently gheraoed the office of the society and had demanded their deposits back.