Who is Ananthu Krishnan, the man behind multi-crore fraud in Kerala?

Ernakulam Rural Police arrested 26-year-old Ananthu Krishnan, who allegedly orchestrated a fraud involving promises of laptops & scooters at half price, leading to a loss of about 500-600 crore

A 26-year-old man, Ananthu Krishnan, from Thodupuzha in Idukki district, Kerala, orchestrated a multi-crore fraud, now estimated to be around Rs 600-700 crore. 

Ernakulam Rural Police arrested Ananthu Krishnan last week after hundreds of people filed complaints against him. He allegedly defrauded people of several crores by promising scooters, sewing machines, home appliances, and laptops at half price.

 

Similar complaints surfaced when the news of his arrest broke, as thousands of people had signed up for the scheme, many of whom were women.  Kerala CSR scam: Former judge CN Ramachandran Nair named in cheating case

 

As per sources, the National NGO Confederation came into existence in 2022 by bringing around 170 local NGOs together. It aimed to collect corporate social responsibility (CSR) funds from companies to cover half the cost of products to those who avail the scheme. 

 

 

Apart from Krishnan, the “national coordinator” of the NGO confederation, prominent figures were also members of the confederation, such as a retired High Court judge and the executive director of a prominent NGO, who were also named as accused in connection with the scam. 

 

Police reported that Krishnan took money from around 30,000 applicants that he deposited in around two dozen bank accounts.

 

An officer of Ernakulam Rural Police said, “Complaints run into thousands, both from individuals and local NGOs or other entities that worked as facilitators for the fraud. After verifying the details, we have so far registered around 100 cases, in which there has been a reported loss of Rs 60 crore. Prima facie, the money involved in the fraud is estimated to be Rs 400-500 crore. The volume of money will only go up after all complaints are verified.” 

Who is Ananthu Krishnan?

Krishnan is a graduate who comes from Kudayathoor in Idukki district. His father is a carpenter and his mother works at the state civil supplies corporation.

 

C S Sreejith, a Kudayathoor panchayat member, mentioned that Krishna uses his relationships to his advantage. He said, Ananthu (Krishnan) has the gift of the gab… He uses all of his relationships to his advantage. He has launched two NGOs on paper – one named after Sardar Patel and another after Abdul Kalam. Both had their offices listed at Kudayathoor.”

 

“After he floated the NGO, his growth was visible. He bought land and moved around in costly cars. He distributed scooters and laptops in our village also. At the same time, we have complainants who were cheated,” Sreejith added.

What was the scheme?

The confederation was offering scooters worth Rs 1.20 lakh at Rs 60,000, and laptops worth Rs 60,000 at Rs 30,000 and the test of the MRP was promised to be met through the CSR fund that the NGO confederation was supposed to bring in from corporates. 

 

The applicant had to pay half of the product's price and the registration fee of Rs 500. 

 

Early applicants actually received the two-wheelers and the laptops at the promised price which was the investment to win the people's confidence. 

 

According to the police officer, “This was a ploy to win over the confidence of the public and attract more applicants. There was no CSR fund from anywhere. The full market price of the offered products, which were delivered initially, were entirely met from the initial amounts pooled from various applicants. Besides, he (Krishna) also pocketed commission for bulk purchase of scooters and gadgets."

 

At the event, Krishnan clicked pictures where he was surrounded by celebrities and prominent figures.

 

When he failed to deliver the promised products, he tried to settle the issue by returning the applicants’ money. But, as the complaints continued to mount, it led to police action.