C.S. Sreenivasan, the secretary of the Kerala Pradesh Congress Committee, has been detained under remand in relation to a Thrissur cheating case. People were duped by promises to double their investment when they withdrew it. It is now known as the Heawan Nidhi Investment Scam, Thrissur. Congress politician C.S. Sreenivasan, the managing director of Heawan Nidhi Investment in Thrissur, is the third person detained in the case.
The scam occurred while Sreenivasan was the managing director of Heawan Nidhi Investment in Thrissur. According to reports, he did not act alone. He was joined by two other friends. When they gathered the investments, they guaranteed the investors a 100% increase. Police had previously detained well-known businessman T.A. Sundar Menon and another colleague.
Even though local police initiated the investigation, it was later turned over to the Crime Branch.
Sreenivasan was detained shortly after the Crime Branch took over the case. The accused and other directors of Heawan Nidhi Investment have had their assets and properties frozen under the Banning of Unregulated Deposit Schemes Act (BUDS Act).
The incident has put Congress under worst sort of pressure as they find it tough to face the people. The remanded accused is the state secretary of the Congress. Therefore, it will not be easy for them to criticize the ruling CPM-led Left Democratic Front (LDF) for their corruption.
