Finance firm owner and family arrested in alleged investment fraud in Pathanamthitta

THIRUVALLA: Nedumparambil Finance owner NM Raju (Raju George), wife Grace and sons Alan George and Anson George have been arrested by police in an investment fraud case. Raju Thiruvalla, former state treasurer of Kerala Congress (M) and former district president of Pathanamthitta, has been found to have cheated about Rs 2 crore in the cases registered at Pulikkeezhu stations. The complainants are investors from Kottayam, Ernakulam, Pathanamthitta, Thrissur and Alappuzha districts. The investment was accepted through the institutions of Nedumparambil Finance and Nedumparambil Credit Syndicate by offering huge interest.

Complaints have been raised for some time that investors are not being refunded even after the due date. Amounts of investors who had deposited small amounts were returned after they filed a complaint with the police. The arrest was led by DySP S Ashad and CI BK Sunil Krishnan.