Thiruvananthapuram, Friday, November 21, 2008: Thiruvananthapuram Additional Sub-Court has ordered to confiscate the assets of Total4U MD Sabarinath and his father. The assets would be brought under the control of Government Receiver.

Meanwhile, in the raid conducted by vigilance at the residence and office of Chandramati who is the third accused in the case the vigilance have managed to seize major documents.

Sabarinath the 20-year-old financial entrepreneur who is now on remand in Crime Branch custody was arrested by police for allegedly swindling money in the pretext of fabulous investment schemes. He owned 18 cars, including a BMW, and had helped several hawala dealers and fake currency racketeers to launder their money. During his 20-month-long conning spree the youth rubbed shoulders with politicians and filmstars, bureaucrats, and top police officials. Sabarinath’s growth to the stature of a con king began two years ago when he opened Nest Investment Solutions with the help of one Chandramathi, an employee of SIDCO.

The undoing of his business began when Sabarinath and Chandramathi fell out over his connections with another woman called Hemalata employed in a leading private sector bank.