Investment scam: Four more directors of firm arrested

Four more directors of Kundamkuzhy-based Global Business Group (GBG) Limited have been arrested in an investment fraud case. The arrested persons have been identified as C. Subhash, 47, P.V. Rajeesh,39, C.P. Prijith,41, and A.C. Muhammad Razaq,40. Earlier, Chairman D. Vinod Kumar and Director Gangadharan were also arrested. They have been remanded in Kannur Central Jail since January. As many as 20 people approached the Bedakam police with a complaint. About thirty cases have been registered. Investors say that those who have invested ₹50,000 to ₹5 lakh have been cheated. The police say they have uncovered a fraud of ₹400 crore and more than five thousand people from Kasaragod, Kannur, Kozhikode and Wayanad districts were victims. The accused have been accused of influencing clients to attract investment.