Begin typing your search above and press return to search.
Homechevron_rightKeralachevron_rightKey accused of...

Key accused of total-4-you scam Sabarinath surrenders

Key accused of total-4-you scam Sabarinath surrenders

Thiruvananthapuram: The key accused in the total-4-you investment scam, K Sabarinath, who has been absconding for the last two years, has surrendered at the Magistrate Court here.

The 27-year-old youth was later remanded into judicial custody till May 5.

He has filed a plea seeking that he be shifted to the central jail here citing threat to life.

The Rs 200 crore “Inest and Total 4 U” financial fraud case dates back to 2008.

The prosecution’s case is that Sabarinath and his associates wooed nearly 1,000 persons to deposit considerable sums of money in the companies by promising them high returns in a short time on their investments.

The accused initially paid some investors their dividends. However, this was not from the profits made by his firms but from the principal of new depositors queuing up in scores to invest in the “successful” firms.

Show Full Article
Next Story