Swindlers have it easy in Kerala. Even as the escapades of fake antique-dealer Monson Mavunkal are fresh in the minds of the public, another man has pulled off a multi-crore investment scam. The latter, Praveen Rana, who was arrested from Tamil Nadu the other day, strangely resembles Monson in his deceit.
The silver-tongued Monson could take anybody for a ride with his tall claims doled out in the most convincing way. And it was through a mountain of lies and deceptions that the controversial fake antique dealer built his empire and pulled off the most audacious scam that the state ever witnessed.
He called himself a billionaire engaged in the business of antique products and how he succeeded in duping several people, including the big names, is outside of logic. Many parallels can be drawn between Monson Mavunkal and Praveen Rana, the kingpin of the multi-crore investment fraud.
The investors fell for the boasts by Rana that he was raring to build a vast business empire capable of lifting India to the zenith of the world. He made investors believe that he will find a place among the 10 top rich in India by 2025 with his investments in liquor, hotel, tourism, real estate, and port sectors.
Monson’s strategy was to befriend and surround him with political and bureaucratic big shots. Most of them were top-level police officers. In Rana’s close circle, there are many top police officers in Kochi. Both have close friends in the film field as well.
The rise and fall
Kaippully Pushkaran Praveen, aka K P Praveen, is the son of a mason who rose to be a contractor building houses. He grew up without facing financial constraints. He had an education in public schools.
When Praveen’s father started house construction as a contractor, he developed a respect for the civil engineers who drew the plans. The father dreamed of owning a company in which the son draws the plans for projects, and the father realizes them. He admitted the son to an engineering college in Thrissur. Though Praveen completed his studies, he didn’t pass out of the course.
Praveen started a firm named Kaippully’s Business Group by taking a shop room on rent on the second floor of a building at Kunnathangadi Junction near his house at Veluthoor. The main business was marriage and job consultancy.
By integrating Kaippully Cinemas into the group, he declared starting film production. He established connections with several people in the event management and mega-show sectors to grow in these fields.
He organised a mega-show titled ‘Youth Ratna Awards’ at Lulu Convention Centre at Puzhakkal in 2010. The best hero award was presented to Prithviraj and Bala was chosen as the best villain and given an award. However, when he defaulted on payments to serial artists, drivers, and light and sound operators, trouble erupted.
However, Rana had made deft moves to avoid cases. He had arranged contracts with the help of advocates to hold the show and also bring actors. He made it a point to secure his side with these contracts. However, the climax of it was all the more shocking: Praveen duped the advocates who helped him draft secure contracts. He didn’t pay anyone the promised fees!
