Key Points
Rs 1,000 crore CSR fund scam exposed by Kerala Police
Ananthu Krishnan identified as primary mastermind
Over 500 financial fraud cases registered
Enforcement Directorate conducting parallel investigation
Anand Kumar is alleged to have received Rs 10 lakh per month over several months from 28-year-old Ananthu Krishnan, the alleged mastermind behind the massive scam. Krishnan, considered the kingpin of the fraudulent scheme, is currently in judicial custody.
Following the court's decision to reject his anticipatory bail plea, a Crime Branch team swiftly arrived at Anand Kumar's residence in Thiruvananthapuram and took him into custody.
The investigation team had planned to transfer him to Alappuzha for further interrogation regarding his role in the fraudulent operations.
However, while in custody, Anand Kumar reportedly developed health complications and was subsequently shifted to a hospital for medical examination.
The scam, orchestrated by Krishnan and his associates, involved deceiving victims by offering high-value consumer products -- such as scooters, laptops, and sewing machines -- at half their market price under the guise of a CSR initiative. This aggressive promotional campaign attracted thousands of unsuspecting investors, who were led to believe they were making a lucrative purchase through corporate sponsorship.
As the fraudulent scheme unraveled, several victims came forward, alleging that they had invested their savings in what appeared to be an enticing opportunity.
However, once the promised products failed to materialize, complaints began pouring in from across Kerala, prompting an extensive police investigation.
The Crime Branch's investigation has revealed the staggering extent of the scam, leading to the registration of over 500 cases of financial fraud across all 14 districts of the state. With the arrest of Krishnan, authorities had been closing in on key figures linked to the operation, including Anand Kumar, whose involvement was under scrutiny.
Last month, as part of a parallel probe, the Kochi unit of the Enforcement Directorate (ED) conducted raids at 12 locations across Kerala to trace the money trail and possible instances of money laundering linked to the scam.
