A 29-year-old, who allegedly conned scores of people of Rs150 crore by promising lucrative returns on their investments, was arrested by the Thrissur East police on Wednesday.
The arrested, Sadikh, was caught from a hideout in Mananthavadi following a tip-off, the police said.
He was the branch manager of the ‘Cee Vee Global Trade Solutions’, a Wayanad-based company allegedly involved in a Rs 400-crore money-chain fraud.
“Over 100 complaints of cheating are pending against him in Thrissur, Palakkad and Kasaragod. He has been charged under various Sections of the Prize Chits and Money Circulation Schemes (Banning) Act and Section 420,” Sub-Inspector Lal Kumar of Town East station said.