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Cooperative group accused of swindle

DENPASAR: As many as 1,276 members of Koperasi Masyarakat Adil Sejahtera, which means the “prosperous and fair community cooperative”, are reportedly anxious about deposits made to the cooperative

The Jakarta Post

Fri, March 30, 2012 Published on Mar. 30, 2012 Published on 2012-03-30T09:20:59+07:00

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ENPASAR: As many as 1,276 members of Koperasi Masyarakat Adil Sejahtera, which means the “prosperous and fair community cooperative”, are reportedly anxious about deposits made to the cooperative.

They fear that the cooperative management had made off with members’ deposits to the worth of around Rp 1.58 billion.

“We have received reports from the cooperative’s members. They claimed that they had been cheated by the cooperative and that they could not withdraw their deposits,” said Dewa Nyoman Patra, head of the Bali cooperative and SMEs (small and medium enterprises) agency, as quoted by Antara news agency.

The cooperative, which has a central office in Malang, East Java, opened an operational office in Lukluk village, Badung regency.

“The cooperative started its operation in Bali in 2009 with members from various walks of life,” Patra said.