- By KOL News , Written on October 14, 2008
Thiruvananthapuram, Tuesday, October 14, 2008: Safe Investment Solutions, a private finance company has been identified by the police as having engaged in cheating by offering considerable dividends on deposits.
The police have also discovered that Chandramathi, suspended manager of the Small Industries Development Corporation (SIDCO), was one of the main promoters of the private firm.
Chandramathi who is under police investigation for her alleged dealings with financial fraud suspect Sabarinath is absconding. A Crime Branch team headed by Circle Inspector Hussien on Saturday searched several premises in Bangalore for Chandramathi.
The main accused in the case are Nafiz of Attingal, Praveen of Thirumala and Chandramathi. He said the police received two complaints against the firm since Friday.
2 Responses to “All is not safe with ‘safe investments’”
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As long as people look up to making fast buck,without shedding any sweat, these type of people who do not have any scruples will thrive. Its a pity that lessons are not learned from history, which has several such cases.
What a great job done by Kerala Police..
The whole world knows about safe investment.. Except the Kerala Police. What they will do with Safe? Even they are not able to arrest Chandramathi.
Why these things are happening?
Sabarinath and Chandramathi introduced schemes which are coming under collective investment schemes. All the collective investments scheme falls under SEBI regulation.. If one go through the regulations no one can start such schemes in his life..