The managing director (MD) of Fashion Gold jewellery, Pookoya Thangal, who had been absconding for 10 months after being accused in the jewellery investment fraud case, surrendered before the Hosdurg First Class Judicial Magistrate court in Kasaragod District, Kerala, on Wednesday.
Former Indian Union Muslim League (IUML) MLA M.C. Kamaruddin was arrested and later granted bail in the case. However, Mr. Thangal went absconding soon after many investors alleged that they were cheated by the company after they had invested money and gold with a promise for good returns. Mr. Thangal arrived at the court with his lawyer.
The Kerala Crime Branch is investigating the ₹13 crore Fashion Gold investment scam. More than 150 cases have been registered in connection with the fraud.
