Enforcement Directorate arrests two in Kerala for Rs 1,000 cr Popular Group fraud case

A special court has granted custody of both to the ED till August 18.The ED initiated investigation on the basis of more than 180 FIRs registered by Kerala Police.

New Delhi: The Enforcement Directorate (ED) on Saturday (August 14) informed that it has arrested Thomas Daniel and Rinu Mariam Thomas of Kerala`s Popular Group on charges of cheating people to the tune of Rs 1,000 crore. The two are the Directors of Popular Finance and other Group entities in the cheating case. The two are the Directors of Popular Finance and other Group entities in the cheating case, the agency said. A special court has granted custody of both to the ED till August 18.The ED initiated investigation on the basis of more than 180 FIRs registered by Kerala Police. As per the FIRs and information shared by police, about 3,000 depositors have been cheated to the tune of approximately Rs 1,000 crore.