<h1>Bail denied to two accused in major cooperative society fraud involving alleged diversion of Rs 40-50 crore annually</h1> The Orissa High Court refused bail to two accused in a major financial-fraud probe concerning a cooperative society, holding that the gravity of alleged misappropriation (annual diversion of Rs 40-50 crore from 2017-18 to 2023-24 and transactions exceeding Rs 175 crore), the risk of witness influence by allegedly influential accused, and the ongoing investigation made bail undesirable. Investigators allege funds were siphoned through forged bills and self-cheques, with substantial transfers to unrelated accounts; one accused admitted signing numerous self-cheques for purported development that did not occur. Both were arrested in March; earlier interim and pre-arrest/regular bail applications were previously denied or limited.