IUML leader is accused in 109 cheating cases related to an investment scam

Serious charges: Manjeswaram MLA M.C. Kamaruddin being taken away by the police in Kasaragod on Saturday  

IUML leader is accused in 109 cheating cases related to an investment scam

A Special Investigation Team (SIT) of the Crime Branch on Saturday arrested Indian Union Muslim League (IUML) leader and Manjeswaram MLA M.C. Kamaruddin in connection with the Fashion Gold jewellery investment scam. Mr. Kamaruddin was arrested during an interrogation that started at 10 a.m. at the district police training centre. Mr. Kamaruddin is accused in 109 cheating cases registered in connection with the scam.

Mr. Kamaruddin, as the chairman of Fashion Gold and three other companies, and co-accused Pookoya Thangal, who is the managing director, allegedly cheated investors after accepting money and gold from them.

Mr. Kamaruddin has been arrested in the four cases that were initially registered at the Chandera Police Station. The MLA was taken to the Kasaragod General Hospital for COVID-19 examination and then produced before the Hosdurg Judicial Magistrate.

Meanwhile, Mr. Pookoya was also summoned by the police and questioned for nine hours. It is learned that he was also arrested along with Mr. Kamaruddin.

Many of the complainants in the case are IUML workers and supporters.

This is the first time that an MLA is being arrested in the State for financial fraud. The arrest has come at a time when the State is preparing for the local body elections. The arrest is likely to have a major impact on the United Democratic Frontand the IUML’s prospects.

Earlier, the probe team also questioned Mahin Haji, the mediator appointed by the IUML to resolve the issue, for three hours. The investigation team will look into whether there are any discrepancies between the statements regarding the current assets and liabilities of the jeweller.

Mr. Kamaruddin said there was a planned conspiracy behind the arrest. “I have no part in it. No offence is in my name. The only reason I am prosecuted is because I am the chairman,” he said.

No notice was served on him before the arrest, he said adding that his case would be considered in Kerala High Court on Monday.