Chandramathi's anticipatory bail rejected

The anticipatory bail of third accused in the Total4U money swindling case Chandramathi was rejected by Kerala High Court today. Chandramathi, a former employee of SIDCO and a member of Film censor Board who is still at large was accused by Sabarinath Managing Director of Total4U financial firm of cheating him.

Sabarinath was arrested when after being on the run when his share broking cum financial institution closed down all of a sudden. Sabarinath who had swindled investors to the tune of Rs.5 billion along with some close associates arrested and remanded in the case after the racket was busted.

Sabarinath, who studied up to Class 12, fell out with his parents when they refused to give him money to start his business. He began as a financial consultant with a life insurance company and 18 months ago launched his firm Total4U. He used to offer Rs160,000 on an investment of Rs100,000 for three months. With high returns and prompt payments, Sabarinath won the confidence of many and his client base increased. But since last month, people stopped getting any money.

Sabarinath had a lavish lifestyle and owned many luxury cars. He even opened a recording studio in a prominent hotel in Kochi a month ago.