Jhalokathi, July 23 (V7N) — Frustrated and financially distressed depositors of the Gram Bangla Savings and Loan Cooperative Society in Rajapur, Jhalokathi, held a press conference on Tuesday morning, demanding the return of their invested money. The cooperative, formed in 2014, is now facing serious allegations of financial mismanagement and investor betrayal, leaving nearly 600 depositors uncertain about their savings.

The press conference took place at the Muktijoddha Milan Kendra, where affected investor Parvin Akter read a written statement on behalf of the victims.

According to Parvin, the cooperative was founded by four individuals—Obaidul 30 Nani, Saiful Islam Swapan, Farid Hossain, and Sajal. In recent months, the cooperative’s leadership cited financial challenges and announced a halt to profit-based operations. They assured depositors that all dues would be refunded within two years.

However, tensions escalated when a group of influential depositors began pressuring the cooperative’s owners for immediate, full refunds, leading to what the cooperative claims is an unmanageable situation. Allegedly, this group even raided the owners' business properties and forced them to leave the area.

The press statement asserted that the cooperative’s owners have expressed willingness to return and repay depositors gradually if they are allowed to re-enter the locality without threats. “If the owners cannot return safely, refunding the depositors will not be possible,” Parvin said.

She also claimed that certain individuals are now attempting to take over the cooperative’s properties during the absence of its founders, further harming genuine depositors.

“Our families relied entirely on the income generated from this cooperative,” she said. “If we don’t get our money back, many of us won’t even be able to run our households.”

The aggrieved depositors are urging local authorities to intervene immediately to create a secure environment where the cooperative's management can return and resume operations. They also appealed to the media to amplify their voices.

“Our call is simple,” Parvin concluded. “Stand with us—for our money, for our lives, for our survival.”

The situation highlights ongoing concerns over regulation and accountability in rural financial cooperatives in Bangladesh, many of which operate without stringent oversight. Investigations are reportedly underway.

END/AIJ/SMA/