Patna: Central Bank Staff Cooperative Limited, a non-banking financial company, has duped over 100 people of their money, which, the police believe, could be in crores.

The aggrieved people had last month lodged a complaint against company officials with the Patrakar Nagar police station, but no action was initiated. Angry at lack of cooperation from the police over a hundred people staged a blockade on the Kankerbagh main road on Monday.

They burnt tyres sending traffic haywire for over two hours in the afternoon.

The protesters were demanding the arrest of cooperative officials. The blockade was lifted only after the police reached the site and pacified the protesters.

Most of the people who have been duped are from middle class families, mostly vegetable-sellers or small-time traders in the area. They had deposited the money by opening recurring, savings or current accounts.

"The cooperative society was functioning in Kankarbagh area for the past five years," said Surendra Ram, a vegetable vendor. "The depositors consisted mostly of vegetable vendors and small traders and on several occasions we even withdrew the same. The depositors believed they would never be duped as there was facility to both deposit as well as withdraw money."

Ram Nagina Rai, another depositor, who was duped of over Rs 50,000 by the cooperative society, said: "As cooperatives used to pay more interest than banks, people, especially the poor, used to go there to deposit money."

Also, the location of the cooperative office - opposite Rajendra Nagar terminal on Kankerbagh main road - removed any doubt in the minds of depositors of the possibility of them being duped. Sources said depositors had withdrawn money till October.

"The depositors told the police the office was found shut after November 4," Patrakar Nagar police station house officer (SHO) Sanjit Kumar Sinha said. "Based on complaints, we lodged an FIR on November 9, but till then the office staff and managers had fled. Based on the complaint, the police lodged an FIR against three persons - Shyam Jee, Ekrar Thakur and Shankar Jee - who worked at the cooperative."

The police claimed the exact amount the frauds duped is yet to be ascertained but could be in crores, as several persons had deposited over Rs 50,000.