Tuesday, May 25, 2010

7 persons received cash from Sabarinath, court told

Thiruvananthapuram: At least seven persons, including a film and television serial actor, had received money as advance for land from financial fraud suspect R. Sabarinath, the Crime Branch said.

It informed the court last week that the recipients of cash are actor Biju Pappan (Rs.15 lakh), Naushad of Nedumangadu (Rs.50 lakh), Maheswaran Nair of Mannamoola (around Rs. 2.11 crore as advance for seven acres of hill top property at Pidaram in the city), Arun of Varkala (Rs.15 lakh), Ashraf of Kameleswaram (Rs.60 lakh), Radhakrishnan (Rs.50 lakh) and Shameem (Rs.46 lakh). All had given sworn statements to the magistrate that they would deposit the money in the civil court.

Investigators said Sabarinath had built villas, a floating boat house and club houses on the land at Pidaram. The agency has valued Sabarinaths investment at Pidaram at more than Rs.1.50 crore. It will request the government to take over the land to compensate investors he had allegedly swindled.

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