A day after taking the accused in the Popular Finance scam into custody, the police here on Tuesday recovered several documents, including title deeds from their residence at Vakayar here.
The documents were seized when key accused Thomas Daniel, managing director of the company, along with his wife and two daughters were taken for evidence collection in the morning. The raid, supervised by District Police Chief K.G. Simon, was led by the Station House Officers from Konni, Koodal and Enathu.
The inspection was held amidst heavy police presence even as the public, braving the rain, staged protests.
Mr. Simon said inspections would be conducted at several other locations, including the offices of the finance company in the coming days. “Efforts are also on to trace the destinations where the accused have parked the funds collected from depositors,” the official said.
Ever since the fraud came to light a few weeks ago, the police have been receiving complaints against the company from different parts of the Sate and even outside. According to officials, these complaints will be tagged along with the case registered at the Konni police station for a comprehensive investigation.
Preliminary investigations revealed that the accused had collected deposits in the name of various limited liability partnership firms and diverted huge amounts abroad.
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