Thrissur: Police have arrested the prime accused in the ‘Save Box’ investment scam. The person arrested is Swathik Rahim, who allegedly swindled lakhs of rupees from individuals over a promise that franchises will be established under the name of ‘Save Box’.
The arrest is over the complaint lodged by an East Fort native. According to reports, the person has defrauded around 100 individuals including celebrities and film actors.
The accused and his aides convinced individuals that the app-based online auction platform 'Save Box' will help them to get electronic devices at cheaper rates. They were also made to buy virtual coins from 'Save Box' itself.
'Save Box' promised a monthly profit of Rs 25 lakh for the franchise operators and accepted investments. However, the franchise operators neither received profits nor returns. The magnitude of the alleged scam remains unknown as complaints are spiraling up.
Apparently, ‘Save Box’ was launched with much fervour in Thrissur and its inaugural was attended by 20 actors.
Meanwhile, the prime accused pretended himself as a law graduate, said reports. The conman had worked in the film field as a project designer and appeared in movies like Jack N Jill and Gauthamante Radham. He reportedly handled motivational sessions and financial management workshops.