Thrissur: Owner of ‘Safe and Strong Company’ in Thrissur, Praveen Rana, accused of investment fraud, has leased a resort for Rs 1.25 lakh to dupe investors in believing he bought the place for Rs 6.5 crores. Rana has undertaken various activities to convince people to invest in his company.
The resort is owned by four Arimboor natives. Rana leased the place by paying Rs 1.25 lakh per month. However, it has come to light that he failed to pay rent on several occasions. Following this, Rana was removed from the resort.
Praveen Rana (KP Praveen) had embezzled huge amounts by offering attractive interest rates to the investors, according to the police.
At present, there are around 24 cases against him at different police stations in Thrissur. After the cases were registered, Praveen has been absconding.