Tragic Turn in Kannur Investment Scam: Accused Found Dead
Shyju Thachoth, an accused in the Kannur Urban Nidhi investment scam, was found dead at his home in Thazhe Chovva. A former manager of the financial firm, Shyju faced charges alongside others for failing to return investors' money. The Crime Branch continues its investigation into the scam.
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In a tragic development, Shyju Thachoth, one of the individuals accused in the Kannur Urban Nidhi Ltd investment scam, was discovered dead at his residence in Thazhe Chovva on Saturday. Local police reported the incident, stating that Shyju was found hanging in his bedroom.
Despite efforts by his relatives to rush him to the hospital, doctors pronounced him dead upon arrival. Shyju was known for his involvement as a former manager of Kannur Urban Nidhi, a financial company that allegedly defrauded investors by failing to return both the promised interest and principal amount.
The ongoing legal battle involves over 50 cases against the firm's proprietors, K A Gafur and Shoukat Ali, along with Shyju. All three had previously been arrested and were currently out on bail. Authorities have handed the body over to family members after conducting a postmortem, and the Crime Branch continues its probe into the case.
(With inputs from agencies.)
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