The investigation into the "Total4uYou" swindling case, involving about Rs 200 crore, took a new turn with the arrest of a woman employee of a leading scheduled bank.
THIRUVANANTHAPURAM: The investigation into the "Total4uYou" swindling case, involving about Rs 200 crore, took a new turn on Thursday, with the arrest of a woman employee of a leading scheduled bank for her alleged links with the firm's promoter, Sabarinath.
Sabarinath was arrested 10 days back for allegedly cheating investors to the tune of about Rs 200 crore.
Hemalatha, the seventh accused in the case, was picked up from the house of her relative at Karamana in the city early on Thursday morning, police sources said.
Police said that investigations had revealed her involvement in the 'murky' financial dealings of Sabarinath, who had amassed huge assets within a short span of time.
She had already been suspended from the bank after her name figured in connection with the case.
According to police, Hemalatha's bank accounts revealed transactions to the tune of several crores of Rupees and she was suspected to be a vital link in the dealings of Sabarinath
A niece of Hamalatha was employed by Sabarinath as manager of his firm, which had received deposits from hundreds of people in the last two years.
Police are also investigating the role of a lady doctor in Kollam for her links with the business of Sabarinath.
Another woman, Chandramathi, an employee of a state Public Sector Undertaking, is absconding after her name figured prominently in connection with the case. She had been named as eighth accused in the case, and suspended from the PSU.
Sabarinath's father was arrested two days back in connection with the case.
Sabarianth business went bust a fortnight back as he failed to return the money to depositors.
In a real-life tale of meteoric rise to dizzy heights of affluence, Sabarinath stormed the social circles in the city for a while by flaunting a lavish lifestyle and liberal purse.
His firm flourished as it offered hefty rates of interest on despoits and was prompt in returning the money in the initial phase.
But he allegedly diverted the funds for his real estate and resort projects.
He also had a craze for luxury cars and the fleet at his disposal included some costly limousines. Police had seized 15 cars from his resorts and found that he had gifted cars to close friends, who included a young film actress.
While those who had come out openly against Sabarinath were small time investors, there have been allegations that huge amouts of unaccounted money and even counterfeit currency, had flowed into his dealings.
The Special Investigation Team probing his dealings has frozen all the bank accounts.
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