Kochi: Maradu police have arrested four more persons in connection with the sensational ₹81 lakh robbery in which a masked gang, armed with a gun and a sword, looted cash from the owner of a steel firm near the Kundannur junction.

The arrested individuals have been identified as Joji Jossy (32) of Aluva — the first accused and alleged mastermind of the operation; Jaisal Francis (30) and Abin Kuriakose (28), both residents of Idukki, who were among the masked men that brandished weapons and fled with the cash; and Lenin Biju (27) of Idukki, who helped conceal the stolen money.

While Joji and Lenin were arrested from Idukki, Jaisal and Abin were arrested from Bengaluru. Another member of the masked gang, Rahul, remains absconding, though the police say they have obtained leads on his whereabouts.

During the investigation, the police recovered ₹30 lakh in cash and cardamom worth ₹14 lakh that the accused had purchased using the looted money. So far, a total of 10 people, including a lawyer suspected to be a key conspirator, have been arrested in the case.

The incident happened on October 8, when the gang stormed into the National Steel Company in Kundannur, using pepper spray before escaping with ₹81 lakh. The heist was the result of a fake “money-doubling” scheme hatched under the banner of a Tamil Nadu-based racket.

According to police, MS Saji (43) of Vaduthala approached company owner Subin Joseph of Thoppumpady with a proposal to convert ₹81 lakh into ₹1.10 crore. Saji introduced Joji and Vishnu as representatives of the money-doubling team, and the group met at a Kochi hotel before arriving at the steel company to finalise the deal.

On the day of the robbery, as Saji, Joji, and Vishnu were counting the cash at the office, a three-member masked gang entered, brandished weapons, sprayed pepper, and fled with the money. They later went into hiding. 

Joji and Lenin were arrested from Idukki, while Jaisal and Abin were apprehended from Bengaluru. The police said the gang initially fled to Thrissur, then moved through Idukki, Pondicherry, and finally Bengaluru, all the while keeping their mobile phones switched off to evade tracking.

Vishnu (30) of Pulickal, Thrissur, who acted as a middleman accompanying Joji, was arrested on the day of the crime. He is the second accused. The third, fourth, and fifth accused are the masked robbers, while the sixth to ninth accused include Saji, lawyer Nikhil Narendranath (43) of SRM Road, Kochi, Bushra (47) of Palluruthy, and Asif Iqbal (43) of Cheranallur.

Arjun (32) and Nihas (26) of Thrissur are the tenth and eleventh accused, respectively. Arjun, the brother of absconding accused Rahul, and Nihas allegedly assisted the gang’s getaway after the robbery.

The police have already seized two cars used in the operation from Nattika and Chavakkad.