Kochi: Subhash George Manuel, owner of the Kochi Blue Tigers cricket team and a film producer, is facing a police investigation over an alleged cryptocurrency fraud.
The Karukachal police in Kottayam district registered a case based on a complaint filed by Malayalis residing in the United Kingdom. The complaint alleges a financial loss of around ₹99 lakh. Police are examining the cryptocurrency transactions mentioned in the complaint, the source of the funds and their subsequent use.
The matter has gained wider attention because Subhash George has also been accused of a much larger financial fraud. According to reports, allegations dating back to 2014 claim that people from different countries were allegedly defrauded of around ₹100 crore. The complainants have alleged that financial activities were operated from the UK to attract people towards investments, following which disputes arose over the money deposited by investors.
Cryptocurrency and Mobile App Used to Attract Investors
According to the complaint, a cryptocurrency was allegedly created along with a mobile application associated with it. The platform was allegedly used to attract potential investors. The complainants claim that people were encouraged to invest in the cryptocurrency on the basis of its potential returns and other promises, but later suffered financial losses.
The Karukachal police are examining transactions involving the alleged ₹99 lakh loss. Investigators are expected to establish how the money was transferred, which bank accounts or digital wallets received the funds and how the money was subsequently utilised. The role of other individuals or entities allegedly connected with the transactions is also likely to form part of the investigation.
Algoritha Security Launches ‘Make in India’ Cyber Lab for Educational Institutions
Alleged Complaints Also Reached the UK
The case reportedly has a significant UK connection. According to reports, some people who claim to have suffered financial losses have also approached the Metropolitan Police in the United Kingdom. Allegations involving people from different countries have potentially widened the scope of the matter beyond Kerala.
Investigators are also examining the alleged use of funds collected from investors. Financial transactions linked to the Kochi Blue Tigers cricket team have reportedly come under scrutiny. Authorities are looking into whether any money allegedly collected from investors was used in connection with the acquisition of the cricket team or related activities.
Funding of ‘Patriot’ Also Under Investigation
Another key aspect of the investigation concerns the Malayalam film ‘Patriot’. According to reports, authorities are examining whether funds allegedly linked to the suspected financial fraud were used in the production of the film. The movie features Mohanlal and Mammootty in prominent roles.
At this stage, there is no established finding that any money used in the production of ‘Patriot’ was connected to the alleged fraud. Investigators would need to establish such a link through financial records, banking transactions and other documentary evidence before drawing any conclusion.
Earlier Casting Plan for ‘Patriot’
Meanwhile, Subhash George Manuel had previously spoken about the initial casting plan for ‘Patriot’. He said that director Mahesh Narayanan had initially considered actor Suresh Gopi for a cameo role while discussing the story. The role was eventually played by Mohanlal. The film also features Kunchacko Boban, Fahadh Faasil, Nayanthara and Darshana Rajendran in important roles.
For now, the investigation is focused on the alleged ₹99 lakh cryptocurrency fraud, the broader allegations of around ₹100 crore dating back to 2014, the alleged investment network and the possible use of funds. Investigators are also examining whether there is any direct financial connection between the alleged transactions and the cricket team or film production.
The actual scope of the alleged cryptocurrency operation and the movement of funds will become clearer as the investigation progresses. The allegations remain subject to investigation and should not be treated as established facts unless supported by evidence and findings from the authorities.
