Crime branch nabs key accused in Rs 150-crore healthcare investment scam

Kozhikode: Crime branch has arrested a key accused in connection with an alleged investment scam of Rs 150 crore, carried out in the name of Phenomenal Healthcare Malayali Pvt Ltd.
Sleuths from Kozhikode crime branch central unit arrested K O Rafael, managing director of Phenomenal Healthcare Malayali Pvt Ltd, hailing from Koratty in Thrissur. He was secretly living at Harur in Tamil Nadu.
He is accused of luring people to invest in various schemes of the company with promises of lucrative returns and also healthcare insurance coverage.
According to police, Rafael was one of the directors of Phenomenal Group of Companies which had been allegedly involved in multi-crore investment frauds across India during 2009 to 2018.
Police said that Rafael had been evading arrest since the closure of the company’s operations in Kerala in 2018. He had been on the run and living in Maharashtra, Tamil Nadu and Karnataka.
He was nabbed by a team comprising crime branch inspector M Sajeev Kumar, sub-inspector Sasidharan, among others.
N K Singh, chairman of Phenomenal Group of Companies, was arrested in Mumbai in 2021 and he was earlier brought to Kerala in connection with the case.
The case is being investigated by a team under Kozhikode crime branch central unit SP G Sabu, DSP M Surendran. Rafael was produced before the court and remanded in Thrissur sub-jail.