Kochi: The Enforcement Directorate (ED) has let out the figures related to the Highrich Money Chain Fraud. As per the ED officials, the company has accumulated almost Rs 1,157 crores through fraudulent means. The owners are currently absconding.

Multiple raids have been conducted in the case so far, including the ones at the Highrich head office, those at the two houses of the owners and the searches conducted at the Thrissur and Ernakulam branches of Highrich.

Out of the total money raised by the controversial company, Rs 482 crores was amassed through cryptocurrency. Rs 1,138 crores was raised through HR coin transactions. ED doubts whether the accused have moved the money to foreign countries.

Meanwhile, fearing arrest in the ED case, Highrich owners KD Prathapan and wife Sreena Prathan have applied for anticipatory bail. Similar cases were registered against the couple previously as well. 

The police in their investigation had earlier accused the company of engaging in frauds amounting to Rs 1,630 crores. The GST department had detected tax evasions to the range of Rs 126 crores.

Several digital evidence pertaining to the frauds have reportedly been seized during the raids.  

The company is said to have engaged in money chain business in the cover of the sales of miscellaneous products. As per the statements issued, Highrich has 78 branches in Kerala and 680 shops across the country. They have several associate companies including those which are involved in crypto currency transactions. It is known that the company has accepted a lump sum of money as deposits, that too by promising huge interests in return.