Details of Thomas Daniel's son in law and daughter Reba traced out.

by Kerala News


Posted on 20 Sep 2020



Pathanamthitta: The managing director of Kerala-based finance firm Popular Finance, who was on the run after allegedly committing a fraud of crores of rupees, has surrendered before the police.

Popular Finance MD Roy Daniel and his wife Prabha Thomas surrendered at the Pathanamthitta district police chief's office by 5.30pm on Saturday.

The police said that the couple had been hiding at a lodge in Thiruvalla for the last two weeks.

Their two daughters Rinu Mariyam Thomas (chief executive officer) and Riya Ann Thomas (member of the board of directors) had been nabbed from the Delhi airport on Friday, while trying to flee the country. They too have been brought to the Pathanamthitta SP office. Their questioning continued late into the night on Saturday.

Rinu and Riya were flown back from Delhi to Kochi airport by Saturday afternoon, and then taken to Pathanamthitta.

After complaints against Popular Finance had started mounting, Roy Daniel and his family locked up their house and fled a month ago.

The police found documents of various firms during an inspection at the Popular Finance's headquarters at Vakayar in Konni. Certain crucial documents were also seized.

Till recently, the customers were given receipts and documents under the name of Popular Finance. However, in the last few months, they were issued documents under the names of various other firms such as Popular Printers, Popular Traders, and Popular Exporters.

It is suspected that deposits from one firm were transferred to another. The deposits were also allegedly diverted to business ventures of Roy's sons-in-law. The revenue department will also make enquires.

Meanwhile, the depositors, who lost money, held protests.

According to preliminary reports, the extent of the fraud might exceed Rs 2,500 crore.

Several complaints of fraud have been registered at various police stations across the state.

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