South India

Rs 100 crore swindler Praveen Rana arrested by Kerala Police

However, he was traced out to a quarry in Coimbatore when he made a call to his wife using a quarry workers mobile phone.

Kochi: Praveen Rana, who was heading an investment and marketing company near here and was on the run after being taken into custody by the Kerala Police on Wednesday from near Coimbatore, was brought to Trissur and his arrest was recorded.

Feeling the heat from his depositors who had invested around Rs 100 crore after he promised a huge return on investment – which was as high as 42 per cent – Rana whose company Safe and Strong went into trouble after he ducked the investors and the police on January 6, and went into hiding.

However, he was traced out to a quarry in Coimbatore when he made a call to his wife using a quarry workers mobile phone.

This call of his was traced by the Police and he was picked up on Wednesday by the Kerala Police.

Later he was brought to Trissur and after the preliminary paper work, his arrest was recorded and while being taken to the district hospital for routine medical examination he told the media that he will return all the money to his investors.

“See, I am doing business and it had just started. When a sapling is planted it takes time to become a tree and in business also it’s like that. So give me the time as I have no intention to cheat. I will return all the money to my investors,” said Rana.

Rana was in the news last year for his flamboyant lifestyle and his sudden rise to stardom had surprised one and all and his fall also became a topic for debate as no one knows where the Rs 100 crore that he had collected had disappeared.

Source
IANS

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