The Crime Branch is set to take over the probe into the multi-crore stock trading scam, which is at present being investigated by the Thrikkakara police.
Last week, the police had arrested Ebin Varghese, 40, of Vazhakkala, proprietor of the Kakkanad-based firm Masters Finserve, which was reportedly into stock trading, and wife Rajani, 40. They are accused of duping people into investing lakhs by luring them with hefty returns.
“The Thrikkakara police alone have registered around eight cases accounting for nearly ₹100 crore. It is a fit case for the State Crime Branch to take over considering the huge amount involved and the State-wide ramifications with more cases likely to registered in stations across the State. The State Police Chief has already issued the order assigning the case to the Crime Branch, which is in the process of completing the proceedings to take over the probe till which time the city police will carry on with the investigation,” said a senior official with the city police.
At present, the Thrikkakara police have arraigned in the husband-wife duo as the accused though at least in one case, Jacob Shijo, who was the vice-proprietor of the firm, was also named as an accused. Sources in the Thrikkakara police said some staff members of the firm could also be arraigned in as accused based on the statements of the arrested.
The accused remain charged with IPC Sections 406 (criminal breach of trust), 420 (cheating and dishonestly inducing delivery of…
