The owner of a money laundering firm has been arrested for defrauding several people, including housewives, by forging documents.
Sibi Thomas was arrested by the police. The accused was arrested on the instructions of the district police chief by Kulamavu police inspector Mr. Sunil Thomas, SI Mr. Manoj, ASI Mr. Ajith, civil police officers Mr. Rajesh and Mrs. Ambili.
Siby Thomas is the owner of Ariplakkal Finance, a financial institution in Thodupuzha. The police found that about 2,800 people had taken loans from the institution. He paid the money after collecting documents, including checks and stamps, signed by people. Even if the same amount of interest is repaid from the purchaser, the money will be demanded again without returning the collateral. If he responds to this, his method is to file a case by submitting documents in the court with ten times the amount of money given. Sibi Thomas has filed a case in court against more than 1,200 people for writing non-refundable documents. In addition, they will demand money and threaten.
There are several fraud cases against him in various police stations and courts. Siby Thomas had been ordered in writing by the police stations and various courts, including the High Court, to appear for further proceedings related to the cases. But despite repeated requests, he refused to attend. Following this, an arrest warrant was issued against him. According to documents recently filed by CB, an autorickshaw worker in 2015, he has assets worth Rs 11 crore, according to documents recently filed with the Income Tax Department. Police have asked the Income Tax Department to investigate the illegal acquisition of property. In addition, a police report was lodged three months ago at various centers, including the GST department, seeking revocation of the license to operate a money-lending institution.