NM Raju (also known as Raju George), the owner of Nedumparambil Finance, along with his wife Grace and sons Alan George and Anson George, has been arrested in connection with an investment fraud case amounting to approximately Rs 2 crore. Raju, a former state treasurer of Kerala Congress (M) and former district president of Pathanamthitta, is accused of cheating investors across several districts, including Kottayam, Ernakulam, Pathanamthitta, Thrissur, and Alappuzha.
The family allegedly attracted investors by offering high interest rates through Nedumparambil Finance and Nedumparambil Credit Syndicate. Despite promises, many investors reported that their refunds were not processed even after the due dates. Some investors who had deposited smaller amounts managed to receive their funds only after filing complaints with the police.
The arrests were made under the leadership of DySP S Ashad and CI BK Sunil Krishnan as the investigation continues into the fraudulent activities linked to the family.
