The Hindu : Kerala / Thiruvananthapuram News : Crime Branch files Vigilance report

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Kerala - Thiruvananthapuram

Crime Branch files Vigilance report

G. Anand

Case against financial fraud suspect

Thiruvananthapuram: The Crime Branch has notified the Vigilance and Anti-Corruption Bureau (VACB) that Chandramathi, who is being investigated along with financial fraud suspect Sabarinath and others on the charge of defrauding more than Rs.100 crore from the public by promising them high dividends in a short time on their investments, had amassed wealth beyond her known sources of income. The suspect was working as Assistant Manager at the Small Industries Development Corporation (SIDCO), a State government undertaking, when the Crime Branch arraigned her as one of the main suspects in the cheating case. The SIDCO later placed Chandramathi under suspension. In her report to the VACB, Superintendent of Police, Crime Branch, Harshita Attaluri, who is supervising the case, said that Chandramathi was a member of the Censor Board and had contacts with influential people in all walks of society. She used these contacts to induce many investors to deposit huge amounts in Sabarinath’s now defunct commodity and share trading companies, Inest and Total 4 U. Ms. Attaluri said Chandramathi had obtained huge amounts as commission from the “fake” companies for inducing people to invest in them. (Investigators said Sabarinath’s firms did not have Reserve Bank of India approval to accept deposits from the public or the authorisation of the Securities Exchange Board of India to use that money for trading in the global share and commodity market.)

Defrauding tax

She said Sabarinath had purchased a Skoda car bearing registration number KL 01 AS 2002 in the name of Chandramathi. Chandramathi also purchased a Chevrolet Aveo car bearing registration number KL 01 AT 280.

Mrs. Attaluri pointed out that Chandramathi (in an original petition filed before the High Court as part of her pleas for anticipatory bail and quashing of the case registered against her) had told the court that Sabarinath had purchased the Skoda car in her name to defraud Income Tax Department assessors.

In her report, the SP said “so it is also a fact that she (Chandramathi) was involved in the process of defrauding the income tax authorities for the benefit of Sabarinath.”

The High Court had dismissed Chandramathi’s petitions seeking anticipatory bail and nullification of the crime case registered against her. The Crime Branch said that Chandramathi’s “illegal earnings amounting to large amounts were deposited in various banks.” It told the VACB that she had constructed an expensive two-storied house at Thirumala in the city. The agency said it has also information that Chandramathi had purchased properties in the name of other persons (benamis). Mrs. Attaluri’s report said Chandramathi had no known source of income to amass so much wealth. Her wealth is disproportionate to her actual income.

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