Archive · 28 May 2025
Police to Seek Custody in Farmfed Deposit Fraud Case
Some people were tricked into putting money into a company called Farmfed.
The company promised a lot of interest, but the people didn't get any money back.
The police have arrested some people in charge and will be asking a judge to let them keep these people in custody.
This is so they can find out where the money went, and if other people were involved.
The police believe about 250 crore rupees was taken.
The people who put in money didn't get any interest and the company would not return their money.
The arrested people may have used the money for their own media businesses and real estate deals.
Police will seek custody of the accused in the Farmfed deposit fraud case.
The accused, Rajesh Chandran Pillai and Akhil Francis, were arrested.
The initial investigation identified a fraud worth Rs 250 crore.
Two more cases were registered against the accused based on new complaints.
The accused allegedly offered high interest rates to lure depositors.
- Who
- Police, Rajesh Chandran Pillai, Akhil Francis, Ajith C, Manoj D
- What
- Police to move custody application in Farmfed deposit fraud
- When
- Thursday
- Where
- Thiruvananthapuram, Ernakulam
- Why
- To find where the defrauded amount was invested and the involvement of others.
- Accused Arrested
- Rajesh Chandran Pillai, Akhil Francis
- Fraud Amount (Initial Investigation)
- Rs 250 crore
- Accused Offered Interest Rate
- 12.5%
- New Cases Registered Based On Complaints From
- Ajith C and Manoj D
- Alleged Use of Defrauded Amount
- Media business and real estate