Multi-crore Popular Finance fraud: Riya sent to police custody

Popular Finance fraud: MD, wife surrender before police
Roy Daniel, his wife Prabha Thomas and their daughters Rinu Mariyam Thomas and Riya Ann Thomas

Alappuzha: The District Assistant Sessions Court here has sent Dr Riya Thomas, the fifth accused in the Popular Finance fraud case, to police custody till October 27.

The court sent Riya to police custody after extending the remand period of all five accused. The fifth accused who is in Thiruvananthapuram jail had appeared before the court online. Earlier when the four accused were sent on police remand, Riya was spared as she was under treatment for COVID-19.

Dr Riya is the second daughter of Popular Finance owner Roy Daniel. Her parents and sister Rinu too are also accused in the case.

Meanwhile, the police have collected preliminary information regarding the property details of the owners of Popular Finance.

The police had earlier traced information regarding other property owned by the accused including three villas in Thiruvananthapuram and luxury flats in Thrissur and Kochi. As part of the current investigations, the probe officials are also trying to find out if the owners of Popular Finance have other property in their name or under benami names.

The firm, with its headquarters at Konni in Pathanamthitta, had allegedly swindled depositors of around Rs 2,000 crore and hundreds of complaints were filed at various police stations in Kerala.

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