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The Kerala police on May 25 arrested the promoters of Farmfed (Southern Green Farming and Marketing Multi-State Co Co-operative Society) in connection with a cheating case. The arrests were made following a First Information Report (FIR) registered by the Museum Police in Thiruvananthapuram. Farmfed primarily operates in Kerala and Tamil Nadu.
A cheating complaint filed by a woman in Thiruvananthapuram had named the Farmfed owners, including chairman Rajesh Chandrasekharan Pillai, and five members of the director board, identified as Dhanya, Akhin Francis, Shyni, Princy Francis and Mahavishnu. The police have arrested Rajesh and Akhin Francis, who are also promoters of Time Square Communication Network Pvt Ltd which launched the news portal The Fourth in 2023.
According to the complainant, the six accused had offered her 12.5% interest and made her invest Rs 24.5 lakh in their company. The complainant initially invested Rs 5 lakh on March 14, 2023. She invested different amounts until October 2024.
According to reports, many individuals were cheated after investing their money in the company.
The accused have been charged under various sections including 406 (criminal breach of trust), 420 (cheating and dishonestly inducing delivery of property) and 34 (joint criminal liability) of the Indian Penal Code (IPC).