sreeranjni abin varghese
Kakkanad: The financial fraud committed by couple Ebin Varghese and his wife Sreeranjini in connection with the share market scam in Kerala is estimated to be around Rs 100 crore. Despite their arrest on Thursday, authorities are still unearthing details of how they spent the money embezzled from wealthy, including NRIs, film stars and others.
Police said that the couple spent crores on gambling, travelling abroad, buying luxury cars, flats, supermarkets and even a cricket club. Further, around Rs 50 crores were spent in casinos in Goa.
Ebin Varghese, and Sreeranjini, residing in SFS Grand Villa near Thrikkakara temple, were arrested from Delhi airport while on the way from Dubai. According to police, the couple tricked wealthy people and embezzled money from them after promising hefty returns by investing in share markets. Following this, around 119 people filed complaints before the police. Police officials said the couple had embezzled around Rs 100 crores from various people.
In 2013, they started Master Fincorp, a financial institution in Thrikkakara. For the next four years, they gathered money from the wealthy and invested in share market. Further, a cricket club named Masters Club was started in Ernakulam. In addition, they also embezzled money through Masters Fin Serve and Masters Fin Care.
On Thursday, the Kakkanad First Class Magistrate court remanded the couple until January 19. The couple were earlier brought from Delhi on Wednesday, and their arrest was recorded in the station.
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