Kochi: Praveen Rana, the main accused in the multi-crore investment fraud case, gave the police the slip when officers went to catch him from his hideout in Kochi.
Following a tip-off, police officers went to the apartment he was staying. But he escaped via a lift as the cops went up in another elevator, Manorama News reported.
Police have now seized the vehicles belonging to Praveen.
The Thrissur-based businessman is accused of swindling close to Rs 100 crore from gullible investors, having collected Rs 1 lakh to Rs 20 lakh from several individual depositors after promising them up to 48 per cent in interest earning.
Praveen Rana, born K P Praveen, is a native of Veluthur, Arimpur in Thrissur. He was the chairman and managing director of the 'Safe and Strong' investment firm.
Praveen, who has MBA and Engineering degrees, set it up seven years ago as a business consultancy and chit-fund company before collecting deposits by promising high returns.
He has 18 cases against him at Thrissur East and West police stations. According to the police, Praveen is connected with many powerful people in the business, and cinema sectors. They do not rule out his political connections either.
He has acted in a movie, which was directed by an assistant SI of Kerala Police. It is learnt that the officer was transferred after his links with Praveen came out in the open.
