POLICE CO-OP MEMBERS SMELL RAT IN E12M PAYOUT

MATSAPHA – There is uproar over a E12 million payout to members of Green Pastures Saving and Credit Cooperative Society, owned by police officers. While the members of the cooperative, who are all police officers have received their dividends, they smell a rat.

This comes after they received their monies without the financials being declared in an annual general meeting (AGM). In fact, the members got their monies a week before the AGM, which was held last Saturday at Matsapha Police Academy.

Green Pastures Saving and Credit Cooperative Society is a countrywide cooperative society for police officers, people employed by the service and retired officers. To date, the society has 4 314 active members and they usually get their dividends during the first week of July, not August as it happened this year.
According to inside sources, dividends were supposed to be declared during the AGM, before being shared by the members.

However, this time around, the members first received their dividends prior to being called to the AGM where the financial status of the cooperative was unveiled.

“These developments have left members suspecting trickery and as a result, there is an uproar within the society,” the insider alleged.
Foul
Some members who were interviewed about the AGM, which was well attended, could not hide that they suspected foul play. They based their argument on the fact that for the first time in the history of the society, dividends were delayed and there were damaging allegations which circulated about the finances thereafter.

The allegations cannot be repeated as they are yet to be proven.
“The committee has tried to explain about the delay and sharing of dividends before the AGM but one cannot rule out the possibility that this was a calculated move to silence us, regarding the use of the finances from the cooperative. As a result, members are unhappy,” the source alleged.

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