Thrissur: It is alleged that Highrich has siphoned off almost Rs 1,630 crores through money chain. The information was included in a report submitted at the Additional Sessions court by the Cherpu police who are investigating the case. The cops were forced to file the report as several complaints came up claiming that the investigation was not progressing in the right direction. 

The police claim that the Highrich money chain fraud is so far the biggest of its kind in Kerala. The report suggests handing over the case to the crime branch. The probe might very well extend to the state of Maharashtra as well. As per the report, the investigating team might require help from special investigation agencies such as CBI and ED.   

The police have found out that Highrich has collected Rs 10,000 each from 1.63 crore people. The HR OTT platform, which falls under the firm, is accused of projecting exaggerated subscription figures. While the platform claims it has 12.39 lakhs members, only 10,000 people have seen the movies on the platform over the last three months.

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 as well. It is known that the company has accepted a lumpsum of money as deposits, that too by promising huge interests in a few cases.

PA Vatsan, a native of Vadakara, lodged a complaint against the company in the Kozhikode Additional Sessions Court. The court handed over the case to Cherpu police. Following this, the Competent Authority under the Buds Act passed an instruction to all district collectors to temporarily freeze the properties of the firm.

Earlier, the state GST department had detected a tax evasion amounting to Rs 126 crores by the company. As per the finding, company director Kolatt Prathapan was arrested. Highrich is based in Neruvissery in Arattupuzha in Thrissur.