SULTHAN BATHERY: The police on Monday produced two of the accused in money chain fraud, Abdul Harshad, managing director and Prajeesh Chacko, promoter, Bizzare Group of Companies, before the Judicial First Class Magistrate Court here, on Monday.They were in police custody for the past few days for investigation in connection with the multi-crore money fraud.The duo are remanded in judicial custody at Vythiri sub-jail. The culprits cheated large number of people collecting huge sums of money, offering shares in the super market chain to be opened in the state.The police stations in the district are receiving countless complaints on cheating cases from ordinary people who joined the schemes of various multi-level marketing (MLM) companies.K Muhammed Shafi, DySP, who is the investigating officer in the case, told Express that so far 27 cases have been registered in the district on petitions received against various MLM companies.The fraudulent operations of the companies came to light when the police arrested eight persons, all senior promoters and agents of the Ernakulam-based Bizarre Group of companies for allegedly cheating customers, here, on June 9.The Bizarre Group enrolled 1,10,000 members, the police said. The company collected Rs 120 crore in total, of which Rs 30 crore was deposited as fixed deposit in the banks.
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