Bail Denied for Anandhu Krishnan, Alleged Kingpin of Kerala's Rs 1,000 Crore CSR Fraud

Synopsis

Anandhu Krishnan, accused of orchestrating a Rs 1,000 crore CSR fund scam in Kerala, was denied bail by a Muvattupuzha court, citing strong evidence. The case has prompted a widespread investigation, revealing over 200 complaints and potential connections to local politicians.

Key Takeaways

Anandhu Krishnan denied bail amidst serious allegations.
Over 200 cases linked to the scam have emerged.
Investigation involves multiple districts across Kerala.
Victims report significant financial losses.
Political implications are under scrutiny.

Kochi, Feb 11 (NationPress) Anandhu Krishnan, the suspected architect behind the Rs 1,000 crore fraudulent Corporate Social Responsibility (CSR) fund scheme in Kerala, was denied bail on Tuesday by a lower court in Muvattupuzha. The court acknowledged a solid prima facie case against him, while the public prosecutor pointed out the increasing number of new cases being filed across the state.

The bail denial came just a day after Kerala State Police Chief Sheikh Darvesh Sahib shifted the investigation to the Crime Branch. The inquiry, overseen by Additional Director General of Police (ADGP) H. Venkatesh, has assembled teams in all 14 districts to address the surging complaints.

To date, over 200 cases have been recorded, and a preliminary examination of 21 bank accounts associated with Krishnan’s NGO, Muvattupuzha Socio-Economic Development Society, indicates that the potential number of cases could surpass 33,000.

Krishnan allegedly deceived victims by offering high-value items such as scooters, laptops, and sewing machines at half the market price. His vigorous marketing strategies persuaded many to invest their savings in what seemed to be an enticing offer.

One victim, an elderly woman from Njarackal, shared her experience of paying Rs 63,000 to Krishnan’s team. “I received a substandard sewing machine valued at Rs 3,000 that doesn’t function, but the Rs 60,000 I paid for a scooter for my daughter is lost. We feel deceived,” she lamented.

As the fraud unravels, Kerala’s three main political alliances -- the ruling CPI(M)-led Left, the Congress-led UDF, and the BJP -- are under investigation after Krishnan alleged that he had financially supported politicians.

In the meantime, Sai Trust chairman K.N. Anand Kumar, a prominent social figure from Thiruvananthapuram, is also being scrutinized due to his connections with Krishnan. Despite asserting his innocence, he has filed for anticipatory bail, fearing arrest. His request is scheduled to be reviewed in a lower court on Thursday, as more victims come forward with complaints against him.

As this scheme is shaping up to be one of Kerala’s largest financial scams, attention is focused on the ongoing investigation and its possible political repercussions.