MC Kamaruddin named 2nd accused in Fashion gold deposit scam

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MC Kamaruddin MLA taken for medical checkup at general hospital after arrest | Photo: Ramnath Pai

Kasaragod: Indian Union Muslim League (IUML) MLA MC Kamaruddin, who was arrested for allegedly cheating several people in a gold jewellery business run by him, was named as second accused in the case. The remand report named another IUML leader and Managing Director of the company Pookoya Thangal as the first accused.

Both the accused have equal involvement in the crime. Over 60 witnesses have been questioned. The agreement entered by the depositors was shown as evidence. The agreement stated that a share of profit will be given every month and the money will be paid back in advance on request.

A case was registered against Kamaruddin for cheating investors in a company named Fashion Gold. This company was allegedly set up by him and another IUML leader Pookoya Thangal. The company was set up in 2017 with over 800 investors. People from different parts of Kasaragod district deposited lakhs in Fashion Gold. The depositors grew anxious once all the branches of the jewellery were closed down. Once the jewellery showrooms in Kasaragod districts were closed, the depositors started filing complaints. These investors have filed over 115 cases against him for cheating and swindling over Rs 150 crores.

A case was registered against Kamaruddin under IPC sections 420, 406 and 409. He was also booked under financial crime prevention act.

The Special Investigation Team (SIT) arrested Kamaruddin in the cheating case on Saturday. The arrest is on three cases registered at Chandera police station.

In the 115 complaints filed, 77 cases were registered and the probe found Kamaruddin had swindled over Rs 13 crore.

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