In connection to the Rs. 100-crore investment scam involving Dhana Vyavasaya Bankers in Thrissur, the third accused, Vadookara Pananchery Veettil Kochurani (62), who had been evading authorities since the revelation of the scam in January, surrendered before the City Crime Branch unit on Thursday.
Kochurani’s surrender follows her unsuccessful attempts to secure anticipatory bail at both the High Court and the Supreme Court. KA Thomas, Assistant Commissioner of the City Crime Branch, is leading the investigation in the case, which has already seen the registration of 125 cases against the accused.
The scam involved luring investors with the promise of interest rates as high as 15%. The financial firm, directed by Kochurani’s husband, Joy D Pananchery, amassed nearly Rs 100 crore in investments ranging from Rs 1 lakh to Rs 50 lakhs. The alleged wrongdoing came to light when a woman and her relatives, who had invested in the firm, filed a complaint with Thrissur East Police after the directors failed to return their invested amount of Rs 54 lakh.
In the wake of this initial complaint, more than a hundred other investors approached the police, culminating in a collective petition to the district crime branch, urging a comprehensive investigation into the matter.
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