The Thiruvalla police on Tuesday arrested a former Kerala Congress (M) leader and his family members in connection with an alleged financial fraud.
The arrested have been identified as Raju George, proprietor of Nedumparambil Finance, along with his wife, Grace, and their two sons — Alan George and Anson George. According to the police, the accused deceived numerous investors by accepting deposits through firms such as Nedumparambil Finance and Nedumparambil Credit Syndicate.
District Police Chief A. Ajith revealed that around 20 cases have been filed in the district so far, with more complaints pouring in. “Police stations in neighbouring districts are also receiving complaints against the accused. Efforts are underway to trace the assets purchased using these deposits,” he added.
Official sources speculate that the scale of the fraud could reach up to ₹500 crore, considering the involvement of several NRI investors.
Mr. George, who owns textile shops and car dealerships, previously served as president of the Kerala Congress (M) Pathanamthitta district unit. The accused, who have been booked under IPC 420 and provisions of the BUDS Act, were presented before a magistrate and remanded into custody.
