Thiruvananthapuram, Friday, November 21, 2008: A team of State Vigilance Investigation Bureau led by Vigilance SP CP Gopakumar raided the residence, and office of Chandramathi, third accused in the Total4U money swindling case today morning.

The raid has been going on at the Thirumala residence and the SIDCO emporium.

The raid comes upon the Crime Branch report that Chandramathi has amassed illegal wealth. The High Court had earlier dismissed Chandramathi’s petitions seeking anticipatory bail and nullification of the crime case registered against her.

The Crime Branch has notified the Vigilance and Anti-Corruption Bureau (VACB) that Chandramathi, who is being investigated along with financial fraud suspect Sabarinath and others on the charge of defrauding more than Rs.100 crore from the public by promising them high dividends in a short time on their investments, had amassed wealth beyond her known sources of income.

The suspect was working as Assistant Manager at the Small Industries Development Corporation (SIDCO), a State government undertaking, when the Crime Branch arraigned her as one of the main suspects in the cheating case. The SIDCO later placed Chandramathi under suspension

Chandramathi who was a member of the Censor Board and had contacts with influential people in all walks of society had induced many investors to deposit huge amounts in Sabarinath’s now defunct commodity and share trading companies, Inest and Total 4 U. Chandramathi had obtained huge amounts as commission from the “fake” companies for inducing people to invest in them.

Chandramathi, SIDCO Assistant Manager and adviser of financial firm Total4U, is on the run eversince the Total4U money swindling case surfaced.