Many investors of the jewellery group have registered complaints of cheating against him.

MC Kamaruddin found speaking at a public function
news Crime Saturday, November 07, 2020 - 16:46

Manjeswaram MLA MC Kamaruddin was arrested by a special investigation team on Saturday after a few hours of questioning in the jewellery scam case in Kasaragod. 115 cases have been registered against him in different police stations of Kasaragod district.

The MLA was questioned by a team headed by Assistant Superintendent of Police (ASP) Vivek Kumar at the SP office in Kasaragod. The ASP had told the media earlier that the MLA was being questioned and that he would be arrested on Saturday.

"He was the chairman of a company involved in a cheating case of Rs 13 crore. Many cases are registered against him. He holds the responsibility, that is why we decided to arrest him," Vivek Kumar told the media.

Indian Union Muslim League (IUML) leader MC Kamaruddin was the party's district president earlier. TK Pookoya Thangal, who was also an IUML leader, is a co-accused in the cheating case.

Kamaruddin and Pookoya Thangal were the owners of Fashion Gold Jewellery, headquartered at Kasaragod district, in which the complainants invested crores of rupees. According to the complainants, they invested the money in branches of the jewellery shop located at Kasaragod and Kanhangad. The jewellery company had allegedly promised to provide a share of the profit to them. Though a few of the investors got some money back, many of them allegedly suffered heavy losses. Most of the investors were Gulf returnees who spent their lifetime savings on the business. It is estimated that the Fashion Gold Jewellery group raised Rs 140 crore from more than 750 investors, most of them IUML supporters. The jewellery showrooms were closed in December 2019.

The jewellery outlets were reportedly shut without informing the investors. Earlier, Kamaruddin claimed that all the allegations were politically motivated. Later, he claimed that he was deceived by his partners and that he had no idea about what was going on. He said that his business crashed unexpectedly.

Also Read : Kasaragod jewellery deposit scam: Many Gulf returnees lose lifetime savings

Also Read : Kasaragod gold scam: Despite protests, complaints and cases, no semblance of justice

 


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