KOTTAYAM: In an apparent setback to the investigation into the Kunnathukalathil chit fund fraud case, the main accused K V Viswanathan, hailing from Kunnathukalathil house (Jino Bhavan), Karappuzha, reportedly committed suicide on Saturday morning.
According to the police, Viswanathan, who got bail in the chit fund fraud case on Tuesday, was under treatment for the depression-related disorder at a private hospital. He reportedly jumped off the hospital building at the heart of the town around 8 am. Speaking to reporters, Kottayam DySP R Sreekumar said Viswanathan took the extreme step soon after his wife, Ramani Viswanathan, who is the second accused in the case, went to attend a phone call. He crashed onto an iron bridge adjoining two buildings breaking the asbestos roofing of the hospital complex. Though he was rushed to the intensive care unit, his life could not be saved.
The Kottayam East police have registered a case for unnatural death and launched an investigation into the incident. Currently, the economic offence wing of the Crime Branch Criminal Investigation Department (CB-CID) is probing the chit-fund fraud case, against Viswanathan, wife Ramani Viswanathan, daughter Neethu and son-in-law Dr Jayachandran. As per the case, he allegedly defrauded several crores of rupees from hundreds of investors in his group of institutions, including Kunnathukalathil jewellers, chit funds, gold loan and finance.
The fraud came to light when the group moved an insolvency petition in the Kottayam Sub-court, stating the group has a total liability of more than `136 crore and assets worth RS 65.55 crore on June 18. Based on the complaints by depositors, the police had registered 17 cases against him for cheating and criminal breach of trust. Of these, 15 cases were later transferred to the Crime Branch. According to the complaints, Viswanathan defrauded money worth around Rs 150 crore and they were on a protest demanding their money. Viswanathan and the other accused were arrested by the police around four months ago and had been in jail till last Tuesday.