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BSNL scam: Investigation into a financial institution in Kollam

In the BSNL Engineers Cooperative Investment fraud, the Crime Branch investigation is now pointing its fingers at a Financial Institution in Kollam. The financial firm where Manikandan, a family friend of AR Gopinathan, the cooperative society president and the prime accused in the case; and his wife, are partners is where the investigation is being focused now. This is based on the finding that the investment funds from the cooperative society have been transferred here ever since the fraud started.

The crime branch found that Gopinathan had invested crores of rupees here, including fixed deposits, in his own name and benami name at various stages. Based on this, notices were issued to Manikandan and his wife to appear for questioning, but they did not appear for fear of arrest. In this situation, the investigation team is planning to spread the investigation to the branches of the financial institution in Kollam and unravel the mystery of the fraud. It is an institution that lends money to clients accepting collateral, including gold. All financial transactions related to the institution will be examined. The account of the financial institution may be frozen if money has been transferred from the bank accounts of the directors or officers of the society.

Meanwhile, the crime branch’s financial crime unit has charge sheeted the society’s office-bearers and board members. Their names are added to the charge sheet in about fifteen cases registered the other day in connection with investment fraud. Earlier, the investigation was conducted in 534 cases which were registered multiple times at the Vanchiyoor police station. Now the number of cases has increased to 549. Other cases registered by the Vanchiur police will also be handed over to the crime branch’s financial crime investigation unit. The investigation is being led by DySP Sajjad. Rajiv, the mastermind of the fraud and the secretary of the society is absconding. Apart from him, the owners of financial institutions in Kollam, Gopinathan’s brother, and assistant are also suspected to be accused. KeralaKaumudi

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