Kerala Police Detain NGO Leader in ₹1,000 Crore CSR Fraud

Key Takeaways

Kerala Police arrested an NGO Chairman in a ₹1,000 crore scam.
Victims were deceived into investing in low-priced consumer goods.
Over 500 cases of financial fraud have been registered.
Ananthu Krishnan, the alleged mastermind, is also in custody.
The investigation is ongoing with multiple raids conducted.

Thiruvananthapuram, Mar 12 (NationPress) - The Crime Branch of the Kerala Police apprehended an NGO leader on Wednesday linked to the ₹1,000 crore corporate social responsibility (CSR) fund scandal that has shaken the state, causing thousands of innocent individuals to be defrauded.

On Tuesday, a local court in the state capital refused bail to K.N. Anand Kumar, Chairman of the NGO Confederation and a prominent social activist in Kerala. Following this, the investigation team took him into custody. However, due to his sudden illness, he was admitted to a private hospital.

Medical professionals later reported that he was experiencing a health issue and placed him in the cardiac ICU.

On Wednesday, a local magistrate appeared virtually, remanding Kumar to judicial custody while permitting him to remain hospitalized.

Kumar is accused of receiving ₹10 lakh monthly for several months from Ananthu Krishnan, the alleged mastermind of the extensive scam.

Krishnan, identified as the kingpin of this fraudulent operation, is presently in judicial custody.

The scam, orchestrated by Krishnan and his accomplices, involved tricking victims into purchasing high-value consumer items such as scooters, laptops, and sewing machines at half their market price under the pretense of a CSR initiative.

This aggressive marketing strategy lured thousands of unsuspecting investors, who believed they were making a profitable purchase through corporate sponsorship.

As the deceitful scheme began to collapse, numerous victims came forward, claiming they had invested their life savings in what seemed like a promising opportunity.

However, when the promised products did not materialize, complaints flooded in from across Kerala, triggering a broad police investigation.

The Crime Branch's inquiry has uncovered the shocking scale of the fraud, resulting in the filing of over 500 cases of financial misconduct across all 14 districts of the state.

With Krishnan's arrest, authorities have been tightening their grip on key individuals associated with the operation, including Anand Kumar, whose role is under investigation.

Last month, as part of a parallel inquiry, the Kochi unit of the Enforcement Directorate (ED) executed raids at 12 locations throughout Kerala to trace the financial trail and investigate potential instances of money laundering connected to the scam.