Three company directors held in Rs 100-crore investment fraud in Kochi
Kochi (Kerala) (PTI): Police on Sunday arrested three directors of a firm accused of cheating hundreds of investors of over Rs 100 crore through a fake investment scheme linked to agricultural tourism here, officials said.
The accused were identified as Muraleedharan, Ashik Murali and Akhil Murali, all natives of Thrissur.
The arrests were made by the Kalamassery police in connection with a fraud involving ATCOS (Agri Tourism Cooperative Society), a firm headquartered at Pathadipalam here.
Police said the company had promised high returns by collecting investments from the public in the agricultural tourism sector, but allegedly cheated hundreds of people and fled with the money.
ATCOS was registered under the Multi-State Cooperative Societies Act and operated 13 branches across various districts in Kerala, besides a branch in Coimbatore in Tamil Nadu, officials said.
When investors failed to receive their promised returns or the invested amount, complaints were filed with the police.
Officials said around 54 cases have been registered against the firm in 32 police stations across the state, including 29 cases at the Kalamassery police station alone.
Following instructions from Kochi City Police Commissioner K S Mahesh Kumar, a special investigation team was formed under the supervision of Deputy Commissioner of Police (Law and Order) Shehensha and Thrikkakara ACP Manoj Kumar.
The team traced the accused to an apartment in Amala Nagar in Thrissur, where they had been hiding after secretly renting the flat, officials said.
The bank accounts of the accused have been frozen, and steps have been initiated to trace their assets, officials said.
Police also conducted a raid at the company’s office at Pathadipalam and seized several documents related to the case.
The accused were produced before the Judicial First Class Magistrate Court in Kalamassery, which remanded them to judicial custody and sent them to Kakkanad jail.
Police said they would seek the custody of the accused for further interrogation as the investigation continues.
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Trump pauses Project Freedom, claims great progress for final agreement with Iran
Washington (PTI): President Donald Trump has suspended “Project Freedom,” to escort ships through the Strait of Hormuz, claiming progress in negotiations with Iran toward an agreement to end the war.
In a post on Truth Social on Tuesday, Trump said, “Great progress has been made toward a complete and final agreement with representatives of Iran.”
“Based on the request of Pakistan and other Countries, the tremendous Military Success that we have had during the Campaign against the Country of Iran and, additionally, the fact that Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran, we have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short period of time to see whether or not the Agreement can be finalized and signed," Trump said.
Project Freedom was launched on Monday to escort ships, stranded due to the closure of the Strait of Hormuz, out to safety. Trump had announced the operation on Sunday and the US Central Command began implementing it the next day.
However, the Project led to friction in the vicinity of the narrow seaway, a key route for transporting one-fifth of the global oil supplies, with the UAE claiming that its ships were attacked by Iran. The US also claimed to have destroyed several Iranian small boats.
Trump’s statement on Truth Social came hours after US Secretary of State Marco Rubio announced that Operation Epic Fury, launched on February 28, had concluded as its objectives have been achieved.
"Operation Epic Fury is concluded. We achieved the objectives of that operation. We're not cheering for an additional situation to occur. We would prefer the path of peace. What @POTUS would prefer is a deal... that is, so far, not the route that Iran has chosen," Rubio told a press conference at the White House on Tuesday.
On Project Freedom, Rubio said the goal was to rescue almost 23,000 civilians from 87 different countries who were trapped inside the Persian Gulf and left for dead by the Iranian regime.
"This is not an offensive operation. This is a defensive operation, and what that means is very simple: there’s no shooting unless we're shot at first. We’re not attacking them, but if they're attacking us or they’re attacking a ship, you need to respond to that," Rubio said.
