Kochi, April 9 The Kerala High Court on Wednesday denied bail to accused K.N. Anand Kumar, the founder and Managing Trustee of National NGO's Confederation who is presently in judicial custody in the Rs 1,000 crore CSR scam case.
The Crime Branch wing of the Kerala Police arrested Kumar last month in the massive scam that has rocked the state after thousands of people were cheated. Soon after he was taken into custody, he fell ill and was admitted to a leading private hospital in the state capital city. Reports said he faced cardiac issues.
The Kerala High Court last month came down heavily on the way VIPs, after getting arrested, take the health route to avoid jail. The court said such a step should be taken only when the jail hospital does not have such facilities.
Kumar is alleged to have received Rs 10 lakh per month for several months from 28-year-old Ananthu Krishnan, the alleged mastermind behind the massive scam.
Krishnan, considered the kingpin of the fraudulent scheme, is currently in judicial custody. Kumar is the second accused in the case.
The scam, executed by Krishnan and his associates, involved deceiving victims by offering high-value consumer products -- such as scooters, laptops, and sewing machines -- at half their market price under the guise of a CSR initiative.
This aggressive promotional campaign attracted thousands of unsuspecting investors, who were led to believe that they were making a lucrative purchase through corporate sponsorship.
As the fraudulent scheme unravelled, several victims came forward, alleging that they had invested their savings in what appeared to be an enticing opportunity.
However, once the promised products failed to materialise, complaints began pouring in from across Kerala, prompting an extensive police investigation.
The Crime Branch’s investigation has revealed the staggering extent of the scam, leading to the registration of more than 500 cases of financial fraud across all 14 districts of the state.
Now, with the High Court refusing bail, Kumar, considered to be a popular figure in the social and cultural circles of the state capital city, will continue to cool his heels behind bars, along with the first accused Krishnan in judicial custody.
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