Kochi: Praveen Rana, who was arrested in the Safe and Strong investment scam, will be produced in court today. Police will apply for custody for further questioning. Rana’s arrest was recorded yesterday afternoon. The police then brought it to Kochi and conducted an investigation. Rana’s statement in the interrogation is that he squandered the money.
Praveen Rana’s claim is that he owns only Rs 16 crore given to his business partner. The police are investigating the whereabouts of the remaining amount. After being caught, Rana said that he only did business and did not touch anyone. Rana’s arrest was led to an investigation based on the phone calls of his relatives and friends.
Praveen Rana was the last word in luxury among investors. Rana was arrested and taken to Thrissur and bought clothes to change by the police. When Rana says that he has no money, the police are looking for the whereabouts of the stolen Rs 150 crore.