Rs 200 crore fraud: couple arrested in New Delhi

THRIKKAKARA: Ebin Varghese (40) and his wife Sriranjini, the owners of Masters Group, who are the main accused in the case of extorting Rs 200 crores by accepting stock investment, were arrested in New Delhi. After the case was registered, Ebin Varghese and his family fled to Dubai on a resident visa. He reached New Delhi airport at 7.30 pm on Wednesday night via Kathmandu from Dubai. They were detained and handed over to Thrikakkara police as a look out notice had been issued. Yesterday afternoon, an investigation team led by Thrikakkara CI R Shabu took them into custody. The arrest of the accused will be recorded this morning. They will be questioned later.

According to the police: The fraud was through institutions like Masters Fincorp, Masters Fin Serv, Masters Fin Care and Masters RCC in Thrikkakara. They collected Rs 2 lakh to Rs 3 crore from investors as stock market intermediaries. Started in 2014, the firm has given returns on the stock till March this year. By the end of November, the owners fled. The intial reports were that Rs 30 crores were extorted. The accused left the country on November 29. After that, about 60 complainants came forward. Now Rs 200 crore fraud has been reported.

Jacob Shijo, an employee, is also an accused in the case. Ebin's children and mother Sheela had returned to their home in Eloor a week ago.