Pathanamthitta: The police conducted raids at the houses of relatives and friends of Popular Finance managing director Thomas Daniel (Roy), who is allegedly involved in a multi-crore scam.
After securing permission from the court, Adoor DySP led the raids at Konni, Vakayar, Adoor, Kadampanad, Manakala and Nellimukal on Saturday. Checks were also conducted at some of the houses in Pathanapuram, Pattazhi, and Panthaplavu.
Pathanamthitta district police chief K G Simon said that several documents, including property deeds, were seized.
A fraud of Rs 600 crore had been committed in Vakayar area of Konni alone, according to the police. The Reserve Bank had in 2014 banned Popular Finance from accepting deposits for violating regulations. But concealing this, the firm continued to collect deposits.
Some of the senior officials of the company, suspected to be involved in the scam, are on the run. It is suspected that they are in Bengaluru.
Over 300 complaints have been filed in connection with the fraud.
