Money chain cases: Probe may go beyond borders

KOCHI: The Crime Branch Economic offences wing probing the money chain cases, including Nano Excel, is looking forward to extending the probe to Andhra Pradesh and Arunchal Pradesh.The Crime Branch which is questioning Harish Madineni at Kochi has learnt that he has several investments, including one in a hydro electric project in Arunachal Pradesh.Sources in the Crime Branch said that Madineni had several major investments in Andhra Pradesh and Arunachal Pradesh.“In Arunachal Pradesh he has invested in a major hydro electric power project sponsored by the Central Government.There are also major investments made in business sectors in various parts of the country,” sources said.Crime Branch DySP Sunil Kumar said that Madineni has been quizzed for the last one week and he will be questioned till Sunday.The agency is also accessing Madineni’s international connection in Malaysia and the Philippines.Meanwhile, the money chain cases are all set to hit 300 mark.At present, the number of cases has increased to 240 and is expected to cross 300 by the next month.In the registered cases available with the Crime Branch, 122 cases are registered on the fraud cases by Nano Excel Company.Another 52 cases are registered against Bizaare and 66 against other smaller companies.Several more cases will be handed over to the Crime Branch next month.It is probing money chain cases in five districts - Ernakulam, Thrissur, Kottayam, Idukki and Palakkad.But the daunting problem before the Crime Branch is lack officials to investigate the increasing cases.“At present, the Crime Branch Economic Offences Wing in Kochi is functioning with only 20 staff.With the case set to increase to 300 the probe will be delayed,” an official with the Crime Branch said.