A large-scale fraud promising scooters at half price has led to a surge in complaints across Kerala, with over 2,000 women filing cases in Kannur district alone. The accused, Thodupuzha native Ananthukrishnan, allegedly swindled ₹350 crore by exploiting people’s trust through local-level seed societies. Complaints have been registered at multiple police stations, including Kannur, Taliparamba, Sreekantapuram, Mayyil, Valapattanam, and Payyannur, leaving the police overwhelmed by the sheer scale of the scam.
The fraudulent scheme was marketed as a Corporate Social Responsibility (CSR) initiative that would provide scooters at half price. To add credibility, Ananthukrishnan formed 62 social welfare societies across the state and initially distributed some sewing machines and laptops. This tactic helped gain the public’s trust before the large-scale fraud was executed.
The police have already frozen ₹3.25 crore from the accused’s bank accounts, but investigations reveal that ₹15 crore was embezzled from Alappuzha alone. Further probes uncovered that Ananthukrishnan used the stolen funds to purchase land in Idukki and Karnataka. Authorities have now traced these properties and are gathering more evidence. The fraudster operated through a hidden network of paper companies and even set up a bank account in Iyyattumukku, Kochi, to funnel the money.
Ananthukrishnan’s credibility was built by organizing grand-scale fairs across Kerala. In Paravur alone, over 1,000 victims were duped. With the scam affecting thousands, the case will now be handed over to the Crime Branch for further investigation. It has also come to light that the accused had previously been involved in a similar fraud in Adimali, further confirming his history of financial crimes. Authorities are intensifying efforts to trace more assets and recover the funds swindled from unsuspecting victims.
