Synopsis
The Kerala Police's Crime Branch has made a second arrest in a massive Rs 1,000 crore CSR fund scam that has defrauded numerous innocent citizens. Following the arrest of K.N. Anand Kumar, the investigation continues to uncover the extent of this fraudulent scheme.Key Takeaways
- Second arrest made in the Rs 1,000 crore CSR fund scam.
- K.N. Anand Kumar, a social activist, is under scrutiny.
- Ananthu Krishnan, the alleged mastermind, is in custody.
- Over 500 financial fraud cases registered across Kerala.
- Extensive investigation launched by the Crime Branch.
Thiruvananthapuram, Mar 12 (NationPress) The Crime Branch division of the Kerala Police apprehended a second suspect on Wednesday in connection with the Rs 1,000 crore corporate social responsibility (CSR) fund fraud that has sent shockwaves through the state, leaving thousands of innocent individuals deceived.
Just hours after a local court denied bail to K.N. Anand Kumar, the Chairman of the NGO Confederation and a prominent social activist in Kerala, he was taken into custody by the investigative team. However, due to a sudden health crisis, he was transferred to a private hospital.
The medical team subsequently confirmed that he faced a serious health issue, resulting in his admission to the cardiac intensive care unit.
On Wednesday, a local magistrate conducted an online hearing, placing Kumar in judicial custody while permitting him to remain in the hospital.
It is alleged that Kumar received Rs 10 lakh monthly for several months from Ananthu Krishnan, the primary suspect behind this extensive fraud.
Krishnan, identified as the mastermind of this deceitful operation, is currently held in judicial custody.
The scam, devised by Krishnan and his associates, involved tricking victims into buying high-value consumer items—such as scooters, laptops, and sewing machines—at half their retail prices under the pretense of a CSR initiative.
This aggressive marketing strategy lured in countless unsuspecting investors, who believed they were engaging in a profitable purchase through corporate sponsorship.
As the fraudulent scheme unraveled, numerous victims came forward, claiming they had invested their life savings in what seemed to be a promising opportunity.
However, when the promised goods failed to arrive, complaints surged from across Kerala, prompting a thorough police investigation.
The Crime Branch has uncovered the vast scale of the fraud, resulting in over 500 cases of financial misconduct being registered across all 14 districts of the state.
With Krishnan’s arrest, authorities are zeroing in on key players involved in the operation, including Anand Kumar, whose role is under investigation.
Last month, as part of a concurrent inquiry, the Kochi unit of the Enforcement Directorate (ED) executed raids at 12 sites across Kerala to trace the financial trail and any potential instances of money laundering associated with the scam.
