A clear case of conspiracy, MLA Siddique on financial fraud case against wife

Kozhikode: Congress leader T Siddique MLA alleged conspiracy behind the financial fraud case registered against his wife. He went on to term the whole development as politically motivated.

Earlier, Nadakavu police registered a case against five individuals, including Siddique's wife Sharafunnisa, for fraud linked to a financial institution named SIS India under Nidhi Limited.

Addressing the media on Friday, Siddique stated that his wife resigned from the institution after suspecting the dubious nature of its operations. 

Siddique clarified that his wife resigned from her post as the branch manager after realising that the company lacked the vigilance and discipline of a proper financing firm. 

"My wife had informed the bank of her reason for leaving in her resignation letter. Therefore, lodging a case in 2024 against an employee who resigned in 2022 is a clear case of conspiracy," he added.

He challenged the police and the complainant to prove that the financial fraud was carried out while his wife worked in the branch. The FIR states that the incident pertaining to the case happened on March 16 and April 19, 2023. But Sharafunnisa officially resigned in December 2022. The Congress leader also challenged the police to examine the CCTV footage of the branch.

“The police have become a tool of the state government to exercise political extermination by filing false cases. But these attempts to subdue and insult will not work here,” Siddique said. 

The case was registered on the basis of a  complaint filed by a Kozhikode native. Sharafunnisa is the fourth accused, and the fifth is a woman named Shamna. 

The complaint states that the firm accepted deposits promising interest, but neither returned the interest nor the invested sum. The complainant was assured Rs 13.5 per cent in interest for around Rs 5.65 lakh deposited in the bank. The police received three complaints against the firm on Thursday alone.