Thiruvananthapuram: Hours after a local court denied bail to K.N. Anand Kumar, Chairman of the NGO Confederation and a well-known social activist in Kerala, the Crime Branch police took him into custody in connection with the Rs 1,000 crore corporate social responsibility (CSR) fund scam.
Anand Kumar is accused of receiving 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 operation, is currently in judicial custody.
Following the rejection of his anticipatory bail plea, a Crime Branch team swiftly reached Anand Kumar’s residence in Thiruvananthapuram and took him into custody. The investigation team had initially planned to transfer him to Alappuzha for further interrogation regarding his role in the scam. However, while in custody, Anand Kumar reportedly developed health complications and was subsequently shifted to a hospital for medical examination.
The fraudulent scheme, 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 pretext of a CSR initiative. Thousands of unsuspecting investors were lured into the scheme, believing they were making a lucrative purchase through corporate sponsorship.
As the scam unraveled, several victims came forward, revealing they had invested their savings in what seemed like an attractive opportunity. However, when the promised products failed to materialize, complaints surged from across Kerala, prompting an extensive police investigation.
The Crime Branch’s probe exposed the massive scale of the fraud, leading to the registration of over 500 financial fraud cases across all 14 districts of the state. With Krishnan’s arrest, authorities intensified their crackdown on key figures linked to the operation, including Anand Kumar, whose involvement had been under close scrutiny.
As part of a parallel probe, the Kochi unit of the Enforcement Directorate (ED) conducted raids at 12 locations across Kerala last month to trace the money trail and possible instances of money laundering linked to the scam.
With IANS inputs