Justice Delayed: Victims of Multi Crore Investment Scam Seek Compensation | Thiruvananthapuram News

T’puram: No progress has been made police investigation to multi-crore investment fraudAn incident in which many people were defrauded by an import-export company. The police could not even trace the whereabouts of the accused even though several months had passed since the cases were registered.
The police have registered 12 cases and cases registered so far have reportedly involved fraud worth Rs 4 million.
Complaints registered against the general manager ASK Import and Export Group based in PettahKadakkavoor native Akash and two others working in the company. Complaints have been lodged at various police stations in the area and considering the significant amount involved, the seriousness of the scam is quite high. Thereupon, the police now want to transfer the file to the crime branch.
However, no decision has been made yet regarding the transfer of the file to the crime branch. Victims expressed concern about the lack of an effective investigation into their complaints; This will help the defendant get off the legal hooks.
According to the complainants, they were offered foreign trips and attractive returns if they invested in the exporter and importer company.
One of the complainants, Reghu C from Cheruvaikal, invested Rs 31 lakh in the firm between 2021 and 2023. However, even after a year, he could not make any profit. When he started asking for his money back, the defendant tried to solve the problem by asking for time. However, some time passed and the victims, including himself, eventually approached the police to file a complaint.
The first case was recorded on the complaint of a person from Vakkom who lost 1.5 million rupees.
The police have registered cases related to complaints under sections of IPC 406 dealing with breach of trust and 420 dealing with cheating.