Thrissur couple absconds after allegedly embezzling over Rs 100 crore from investors

Kochurani, Joy

Thrissur: The couple who allegedly lured investors with lucrative interest rates after establishing financial institutions at Chettiyangadi in Thrissur are on the run. Thrissur East police have launched a probe against Vadookara native Joy and his wife Kochurani based on complaints lodged by investors.

The investigation has been handed over to the Crime Branch as a financial fraud of over Rs 100 crore was surfaced in connection with the case. The first case was lodged by Vadakoor native Mercy, who invested Rs 29 lakh in Joy's institution. Nearly 100 people have filed complaints against Joy.

The couple had offered an interest rate of 15 per cent to attract more investors. The operations of the bank were intact initially which helped the couple to gain the trust of investors. Some of the investors were misguided by claiming that the institution was a public bank.

The investors registered complaints when the bank remained closed on Monday and no one received their calls. Joy and Kochurani absconded even before the locals and police began a search for them.

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