Woman arrested for swindling money worth lakhs under guise of private finance firm

ALAPPUZHA: A 36-year-old woman has been arrested for allegedly swindling several lakhs from people under the guise of a private finance firm. The arrested person has been identified as Shini Susheelan, a native of Krishnapuram in Kayamkulam. Shini has been operating a private gold loan firm called Mini Kanakam Finance, where she used to accept gold as collateral and provide cash to customers. However, it's alleged that Shini cheated numerous individuals, amassing lakhs of rupees.

Later, when people came to reclaim their gold by returning the money, Shini would take the principal amount and interest and then refuse to return the gold. She would convince people to invest their gold in her new business venture, promising unusually high returns. She would say, 'Invest your gold, and you'll earn profits unmatched by any other business.' She'd present attractive offers, ensuring timely account updates and returns, making it difficult for victims to decline.

Shini thus cheated numerous people, acquiring their gold and eventually leaving them with neither money nor gold. It was only later that her victims realized they had been duped. Three cases have been registered against Shaini at the Kayamkulam police station. After learning about the investigation, Shaini went into hiding. Prior to her arrest, Shaini worked at a beauty parlour in Cherthala.

Shini was arrested by a police team consisting of CI Arun Sha, SIs Ajith, and Dileep, and police personnel Sajeevan, Arun, Akhil Murali, Sonujith, Ameena and Noora. The accused was produced in court and remanded.