Kerala, known for its high literacy rate, has been repeatedly caught in the web of Ponzi-like schemes, where thousands of people have lost large amounts of money. From scams involving goat rearing to teak cultivation, the state has witnessed numerous fraudulent schemes. Even amidst this educated society, some residents continue to fall prey to such deceptive ventures, highlighting the paradox between Kerala's literacy rate and its vulnerability to financial fraud.

Goat rearing, teak and mangium cultivation
One of the earliest scams in Kerala revolved around promises of profits from goat farming and the cultivation of teak and mangium. People were promised that an investment of Rs 1,000 would yield five times the return in just five years. Thousands of people, lured by these claims, were left devastated once they realised they had been scammed.

Total 4 U scam
Among the most discussed scams in the state was the Total 4 U scam. Run by Sabarinath, the owner of institutions like Tot Total, I-Nest, and Total 4 U, this scam saw over Rs 200 crore swindled from unsuspecting investors. Sabarinath, along with 19 other accused individuals, was blamed for duping thousands through fraudulent schemes.

Solar Scam
The solar scam involved promises of setting up solar plants and wind farms. Over a 100 people were defrauded, losing anywhere between Rs 50,000 and Rs 50 lakh. The controversy was compounded by allegations of political connections to the office of then-Chief Minister Oommen Chandy. The scandal even included sexual harassment accusations, further shaking the political scene of the state.

HighRich scam
The HighRich scam involved a money-chain scheme, leading to an embezzlement of Rs 1,693 crore. The company's owners, K.D. Prathapan and his wife Sreena, promised high returns in exchange for investments of Rs 10,000 each. In total, around 1,69,000 people were deceived. The scam also led to an investigation into Rs 126 crore worth of tax evasion.

Antique scam
The antique scam, masterminded by Monson Mavunkal, was one of the most audacious schemes. Mavunkal sold fake antiques, including the 'staff of Moses,' 'the silver coins received by Judas,' and 'Tipu’s throne.' His connections with powerful figures, including top police officials, lent him credibility, allowing him to swindle over Rs 10 crore from his victims.