Kochi Blue Tigers owner Subhash George Manuel is facing a police investigation over an alleged cryptocurrency fraud involving around Rs. 99 lakh, while reports have also linked him to allegations involving nearly Rs. 100 crore dating back to 2014.
According to Asianet News, Karukachal police in Kottayam registered the case after receiving a complaint from Malayalis residing in the United Kingdom. Investigators are examining the cryptocurrency transactions cited in the complaint, including where the money was transferred and how it was used.
Crypto Platform and App Under Examination
According to the complaint, a cryptocurrency and a mobile application were allegedly used to attract investors. Complainants claim they were encouraged to invest based on expected returns and later suffered financial losses.
The Kerala case centers on an alleged loss of Rs. 99 lakh. However, separate reports say allegations involving investors from multiple countries could total around Rs. 100 crore. Those claims reportedly relate to financial activities conducted from the UK since 2014.
The matter has also reportedly reached the UK Metropolitan Police, where some alleged victims have filed complaints.
Cricket Team and Film Funding Face Scrutiny
Investigators are reportedly examining whether any funds linked to the alleged investment network were used in connection with the Kochi Blue Tigers cricket team.
The financing of the Malayalam film ‘Patriot’ is also under scrutiny. Authorities are reportedly checking whether money allegedly connected to the disputed transactions was used to finance the film. At present, no such link has been established.
‘Patriot’, directed by Mahesh Narayanan, features Mohanlal, Mammootty, Kunchacko Boban, Fahadh Faasil, Nayanthara and Darshana Rajendran.
According to Onmanorama, Manuel previously said Suresh Gopi had initially been considered for a cameo before the role went to Mohanlal.
The investigation is ongoing. Police will need to establish the movement of funds, identify any connected accounts or wallets and determine whether there is evidence linking the alleged crypto operation with the cricket team or film financing. The allegations should not be treated as proven unless supported by findings or court proceedings.
Also Read: MTC Crypto Fraud: ED Traces Rs. 113.10 Crore Money Trail
Disclaimer : Crypto News India does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
