Police in Kochi have arrested three directors of an agri-tourism firm for allegedly cheating hundreds of investors in a large-scale investment fraud estimated to be worth over ₹100 crore.
The arrests were made by the Kalamassery police in connection with a case involving ATCOS (Agri Tourism Cooperative Society), a firm headquartered in Pathadipalam in Kochi.
Directors arrested in the case
According to officials, the arrested directors have been identified as:
- Muraleedharan
- Ashik Murali
- Akhil Murali
All three accused are residents of Thrissur district in Kerala.
Police said the accused were part of the management of the cooperative society that allegedly operated an investment scheme promising high returns to the public.
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Investors allegedly cheated of over ₹100 crore
Investigators said the firm attracted investors by claiming it was involved in agricultural tourism projects and promising lucrative profits from investments in the sector.
However, authorities allege that the promised returns were never delivered, and hundreds of investors were eventually unable to recover their money.
The alleged fraud is estimated to have caused losses exceeding ₹100 crore, making it one of the significant investment fraud cases reported in the region.
Firm operated multiple branches
According to police, the ATCOS cooperative society operated 13 branches across Kerala and one branch in Coimbatore, Tamil Nadu.
The organisation was reportedly registered under the Multi-State Cooperative Societies Act, which allowed it to expand operations and attract investors from multiple locations.
Authorities believe the wide network of branches helped the company attract large sums of money from investors who expected stable returns from agricultural tourism projects.
Investigation continues
Police have launched a detailed investigation into the financial transactions of the firm to determine how investor funds were collected and used.
Officials are also examining complaints filed by investors and tracing bank accounts and financial records connected to the accused.
Authorities indicated that further arrests and legal action may follow as the investigation into the alleged investment fraud progresses.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
