Swami Nithyachaithanya used Rs 1500-crore trust to dupe investors; probe widens in Latha Nair-linked fraud case

KOCHI: Police have widened their investigation into the financial dealings of Anil Kumar (55), also known as Swami Nithyachaithanya, who was arrested in a fraud case involving Latha Nair, an accused in the Kiliroor-Kaviyoor sexual abuse cases. Money collected through the alleged fraud was transferred to the account of the Sree Sree Dakshinamookambika Education Welfare and Cultural Trust, which he had set up in Tenkasi, Tamil Nadu.

Anil Kumar allegedly used the trust to cheat people of crores of rupees. He claimed that the trust could receive funds worth Rs 1,500 crore and convinced investors that money was required to obtain clearance from the Central government. He promised to return five times the invested amount once the trust began receiving Corporate Social Responsibility (CSR) funds. The fraud came to light after one of the investors, who lost Rs 25 lakh, exposed the scheme. Several financial fraud cases have been registered against Anil Kumar at various police stations.

He was arrested by the Thrikkakara police in connection with a case involving the alleged cheating of Rs 37 lakh. He had promised huge returns to investors who put money into a frozen food export company in Kakkanad. The other accused arrested in the case are S. Sunil Kumar (48), a native of Pallikkal in Malappuram, and Sindhu Dileep Kumar (52), from Chirayinkeezhu.

The accused had been operating together for the past year. Sunil Kumar, a former director of the company, was the alleged mastermind behind the operation. Latha Nair conducted her dealings under the assumed name Indu.

Anil Kumar, a native of Mavelikkara in Alappuzha, entered public life as a political activist. After being expelled from his party over financial irregularities, he adopted the appearance of a sanyasi and began using the name Nithyachaithanya.