KOCHI: The Thoppumpady Judicial First Class Magistrate Court on Monday remanded P Maharajan, 41, from Virugumbakkam in Chennai, who is the alleged kingpin of a Rs 500-crore illegal money-lending racket, to 10 days in police custody. According to the police, the investigation team led by DCP (Administration) P C Sajeevan will conduct a detailed interrogation of the accused.
“The officers will look into the operations conducted by the gang headed by Maharajan in Kochi. Earlier, the police had arrested three of his accomplices from Palluruthy,” said an officer.Maharajan was arrested near his residence in Chennai and brought to Kochi on Sunday.
He was charged under the Kerala Money Lenders Act and the Kerala Prohibition of Charging Exorbitant Interest Act. The Palluruthy police registered the case based on a complaint lodged by Philip, a resident of Kadavanthra, who alleged Maharajan collected huge interest from him though he had repaid the loan amounting to `45 lakh.