Thrissur: In a significant development, the Third Additional Sessions Court has confirmed the confiscation of assets belonging to the defendants implicated in the Highrich money chain scam. The ruling upholds the provisional seizure previously ordered by the Collector, comprising a wide range of assets, including 67 bank accounts, 11 vehicles, and various real estate holdings.

While the exact total value of the confiscated property remains to be fully calculated, it has been reported that almost half of the bank accounts contain funds exceeding Rs 1 cr. The Highrich owners contested the motion against the confiscation. However, their plea to dismiss the petition was rejected by the court.

Highrich is suspected to be one of the largest money chain scams in Kerala's history. A submission was presented to the court, by the police, revealing a total sum of Rs 1,630 crore linked to the illicit activities associated with the Highrich operation.