The Kerala Police on Saturday arrested the Muslim League MLA from MC Kamaruddin of North Kerala in an alleged gold investment fraud case. He was president of Fashion Gold, a chain of jewelery shops started with the help of local funding. The jewelery chain had closed four months earlier, leaving many investors at a loss.
More than 110 cases were filed against the promoters and the investors blamed mismanagement and misuse of funds for the loss. According to the police, the investors have lost Rs 30 to 50 crore. When the case was cut two months ago, the Muslim League asked the MLA to take immediate steps to repay the money to investors, but they needed some time off. There is a possibility of action against the party.
Many opposition leaders said the arrests are politically motivated to divert attention from the issues that the government was facing. Chief Secretary Pinarayi Vijayan’s principal secretary M Shivshankar was arrested in a gold smuggling case and Binesh Kodiyeri, son of CPI (M) state secretary, was detained in Bengaluru last week in a money laundering case related to a drug robbery.
Opposition leaders said that Kamaruddin was arrested when he was trying to resolve the issue. The Muslim League was at the forefront of an attack against the CM and his cabinet colleague Katie Jaleel in the gold smuggling case.
STAY TUNED WITH US FOR MORE INTERESTING CONTENT ONLY ON DESINEW.XYZ