The Economic Offences Wing (EOW) of the city police has taken action against three directors of Jaya Fuels, located in Kattanam, Kerala, for allegedly defrauding an investor of over Rs. 1.81 crore with promises of high returns.

The accused, identified as Vijayan Pillai, Vijayakumar Pillai, and Nazim Haneefa Rather, reside in Kannanakuzhy, Thamarakulam, Mavelikkara, district Alappuzha, Kerala.

A complaint was lodged by Latish Kumar Bharatan, a resident of Telangkhedi, who alleged that Vijayan Pillai, Vijayakumari, and Nazim Haneefa Rather promised him a 30 per cent profit on investment in M/s Jaya Fuels for starting a petrol pump. Acting on their assurances, he invested with Jaya Fuel.

However, when Latish Kumar requested the return of his invested amount along with profits from 2012, the accused issued two cheques amounting to Rs. 1,81,94,000. Upon depositing the cheques in the bank, they bounced due to insufficient funds in the account.

Based on Latish Kumar's complaint, a case has been registered against Vijayakumar Pillai and Nazim Rawther at Ambazari Police Station under Sections 420, 406, and 34 of the Indian Penal Code. Deputy Commissioner of Police, EOW, Chandak, is overseeing the investigation.