Highrich Company Financial Fraud: Government Orders CBI Investigation | Latest Update from Manorama Online

2024-04-08 08:46:37

Highrich company financial fraud, government order leaving the cases for CBI investigation – Latest News | Manorama Online High Rich Company Financial Fraud: Govt orders transfer of cases to CBI

Online Desk

Published: April 08 , 2024 02:07 PM IST

Updated: April 08, 2024 02:22 PM IST

1 minute Read

Sreena and Prathapan (Facebook/Sreena Prathapan)

Thiruvananthapuram – Financial fraud case against Hirich Company has been left for CBI investigation. The government issued an order in this regard. About 20 cases are pending against Highrich owners in various stations, citing various types of financial frauds. An investigation conducted by the state police found that more than Rs 3141 crore was collected from inside and outside the state. The Chief Minister had clarified this in the Assembly. The case has been handed over to the CBI while proceedings are underway to confiscate the immovable property in the name of Hirich Online Shopee under the Buds Act.

There were also reports that the group members were conspiring to sabotage the cases. A voice recording of a member of the group has been released stating that efforts are being made to drop cases by paying bribes to public prosecutors. It is said in the audio recording that five crore rupees collected from the members were handed over to the government lawyer.

ED is probing this case in connection with hawala smuggling of Rs 100 crore. There are many complaints including that the company that sells goods including groceries online has started online money chain and cheated people by offering high interest rates and taking deposits from people. Meanwhile, the state GST department found that Rs. 126 crore was evaded and the owner K.D. Pratapan was also arrested. Later released on bail. ED has included these matters in a 12-page counter affidavit filed in the court.

The ED raided on the complaint that money was being smuggled abroad, but company MD Prathapan and his wife and company CEO Sreena escaped. Later, the High Court was approached seeking anticipatory bail. But pointing out that the accused are habitual criminals, the ED has also submitted documents to the court showing that cases have been registered against them in 19 places in Kerala alone.

Cherp police had earlier reported to the court that Thrissur-based ‘Highrich Online Shopee Pvt Ltd’ had committed a fraud of Rs 1630 crore.

English Summary:

CBI to investigate Financial fraud case against Highrich Company

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