Crime Branch begins probe into fraud by Kalamassery firm honchos

The crime branch has launched a probe into a corporate fraud in which two top directors of a Kalamassery-based company have been accused of siphoning off investments worth Rs 14.7 crore.
Representational Image (Express Illustrations)
Representational Image (Express Illustrations)

KOCHI: The crime branch has launched a probe into a corporate fraud in which two top directors of a Kalamassery-based company have been accused of siphoning off investments worth Rs 14.7 crore.

Managing director Pramod Francis and executive technical director Sanjith Mooppil of Prasan Solutions Pvt Ltd at Kinfra Hi-Tech Park here had promised investors to develop natural thermal stabilisers and antimicrobials for the food industry but diverted the funds for other purposes. Cases under the IT Act were registered against a few staffers, too, for allegedly deleting certain data from the company’s computers.

Sources said senior crime branch officer Siby Tom would lead the probe. “The main allegation is that the two directors claimed that they had the technical skills to develop a set of niche products, and duped investors after submitting fudged reports,” said an officer, adding that the money trail was being tracked.
Initially, a case was registered against the duo in Bengaluru. However, the Karnataka High Court transferred the case to Kochi.

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