Rs 300 Cr scam: 1200 women duped by half-price scooter scheme; Idukki man arrested

Kochi: A massive financial fraud involving the sale of scooters at half price to women has been exposed, with the main accused, Ananthu Krishnan (26), a native of Kudayathoor in Idukki, being arrested by the Muvattupuzha Police. Reports suggest that over Rs 300 crore was collected across the state under various schemes. Following Ananthu Krishnan’s arrest, 1,200 women have come forward to file complaints, claiming to have been defrauded.

The fraudulent scheme, named ‘Women on Wheels’, promised women with two-wheelers at half price if they paid 50% of the vehicle’s cost upfront. It was falsely claimed that the remaining amount would be covered through Central Government aid and Corporate Social Responsibility (CSR) funds from major companies. The victims were assured that they would receive their vehicles within 45 days of making the payment.

Apart from two-wheelers, the scam also involved false promises of providing sewing machines and laptops using a similar fraudulent model. To make the scheme appear legitimate, the organisers invited prominent figures for its launch events and portrayed political leaders as supporters of the initiative, thereby deceiving the public.

When victims returned after 45 days to enquire about their vehicles, they were repeatedly assured that delivery would be made within a few days. However, after multiple unsuccessful attempts, they realised they had been duped and began lodging complaints.

Investigations have revealed that the prime accused, Ananthu Krishnan, has high-level political connections. The scam was reportedly executed using a chain marketing model. Women who paid money transferred funds to three bank accounts linked to Ananthu Krishnan’s firm.

Notably, this is not his first offence—he had been previously arrested in 2019 in connection with another financial fraud case. After securing bail, he allegedly orchestrated this new scam.