How Kerala man scammed Rs 500 crore from thousands of families by promising scooters, laptops and more
- Posted on February 11, 2025
- By Business News Today
- 1 Views
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How Kerala man scammed Rs 500 crore from thousands of families by promising scooters, laptops and more
![](https://img.etimg.com/thumb/msid-118150945,width-1200,height-630,imgsize-38150,overlay-economictimes/articleshow.jpg)
Ananthu Krishnan's Ponzi scheme in Kerala falsely promising discounted scooters and household items as part of a CSR initiative has defrauded around 40,000 people of Rs 500 crore. The operation, masked with credibility through social media and associations with prominent figures, was eventually dismantled by police, revealing a sophisticated fraud affecting thousands of middle-class families.