HYDERABAD: A culprit, who has been evading police and has a pending non-bailable warrant (NBW) in a cheating case for the last 29 years, was finally nabbed by Telangana Crime Investigation Department (CID) team at Ernakulam, Kerala, on Friday. He is now 75.
CID officials said that a criminal case was registered by Central Crime Station (CCS) sleuths in 1987 after investors of Travancore Finance and Leasing Company lodged a complaint claiming that the company collected investments from people promising high returns, but failed to keep their promise. Later, the case was transferred to CID from CCS
Additional director-general of police (CID) Mahesh Bhagwat said that one of the accused in this case, K Raman Pillai, was declared accused number 8. In 1994, a local court issued an NBW against Raman, but he went absconding.
Recalling details of the case, Bhagwat said that TJ John, a resident of Kassikunnu House in Trivandrum ( now Thiruvanathapurm), had floated Travancore Finance and Leasing Company at Hyderabad along with TJ Mathew and MM Tommy. They had got their firm registered with the AP Registrar of Firms in September 1986. The other key members of the company were MM Tommy, Sherley Tommy, Mary Mathew, TJ John, Benney Pal, GV Seleven, CJ Joseph, K Raman Pillai, Joseph and Rajan John.
The accused had given wide publicity and distributed brochures inviting deposits from people by promising exorbitant rates of interest. "They collected 12.54 lakh deposits. Of which, 94,921 was refunded, leaving balance of 11.57 lakh besides interest. By misappropriation of funds, they did not pay dues to the depositors and cheated them. The accused violated rules and falsified entries besides siphoning off the money," police said.
A special team was formed to nab the missing accused and the investigators traced Raman. Some of the accused died and, most of them, including Raman, jumped bail. Efforts were being made to nab the other accused. Pillai was booked under section 406 (breach of trust), 120b(criminal conspiracy) of IPC. The accused was produced before a local court in Kerala. After obtaining prison transit warrant, accused was brought to city.
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