Former BCCI vice president duped of Rs 35 lakh in chit fund fraud

THIRUVANANTHAPURAM: A man siphoned Rs 35 lakh as a passbook loan from a government-guaranteed chit fund in Thiruvananthapuram. The fraud happened without the foreman’s notice. TC Mathew, former vice president of BCCI and former president of Kerala Cricket Association, filed a police complaint against Sevi Manomathew, who is also accused in the Merchiston land embezzlement case.

The Fort Police registered a case against Sevi Manomathew, his sister Jessy George and the then-manager of the Financial Institution that was located in Manacaud. In the scam that took place six years ago, Sevi Manomathew, who promised to return the money, failed to keep his word. A native of Thodupuzha, Mathew lived in Manacaud during his tenure as the president of the cricket association.

It was during this time that Mathew became friends with Sevi. In November 2017, Sevi forced Mathew to join the Rs one crore substitute chit fund scheme in the firm. Mathew became Chital No. 240 by paying Rs 47.51 lakh. However, in the coming months, without Mathews’s knowledge, Sevi and the gang siphoned Rs 35.59 lakh from Mathews's account.

In 2018 March 23, Mathew won the bid in the reverse auction conducted. When he came to deposit the amount in the account, he came to know that the passbook loan was taken in his name. When enquired with the manager, he said that an application was given to take the loan. The happenings confounded Mathew.

The signature on the application was found to be forged and Sevi was summoned by the chit fund organization. In the compromising talks held later, Sevi promised to pay back all the money within an allotted date. However, even after years, this promise was never kept.

According to the rules, the loan amount should be paid only in the account of the foreman. However, in Sevi’s case, the money was transferred to Sevi’s sister Jessy’s account. It was this step that made the manager's role dubious. After the incident, the revenue recovery process was stopped as the chit became arrears for a long time. Mathew then had to take out a loan and pay off the chit.