RJ Antony and three siblings have been officially arrested by Ernakulam Central Police for allegedly defrauding investors through a fake gold investment scheme.
The accused—RJ Antony, Joby, Joseph, and Johnson—were earlier taken into custody this year but now face ten more recorded arrests after their bail pleas were denied in separate cases. They operated Athira Jewellery from their store near High Court Junction, Kochi, which has since been shut down.
Police have registered around 40 cases against them, with over 100 complaints pouring in from various regions including Vypeen, Kochi, Paravur, Cherai, and even Lakshadweep.
According to the police, the scheme lured investors with promises of high returns and delivery of gold at market prices corresponding to the date of investment. However, the promises were never fulfilled.
The four are charged under sections 406 (criminal breach of trust) and 420 (cheating and dishonestly inducing delivery of property) of the Bhartiya Nyaya Sanhita.
The arrests mark a major development in what appears to be one of the most widespread financial fraud cases in the coastal region in recent years.
