Pathanamthitta: The owner of Nedumparambil Credit Syndicate (NCS) and Kerala Congress (M) leader N M Raju, wife Grace and sons Alan George and Anson George were on Tuesday arrested from Thiruvalla in connection with a financial fraud of around Rs 500 crore. Raju is the former Treasurer of Kerala Congress (M) and former Pathanamthitta District President of the party. He had resigned from the Treasurer's role eight months ago.

According to police, the accused duped investors, mostly from abroad, by taking money through their various financial firms. The money was then invested by them in real estate, textiles and vehicle marketing, police said. The accused were arrested from their homes at 9am on Tuesday and presented in court.

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When the accused were unable to return the money of the depositors, the latter filed complaints with the police against Raju and his family. There are over 20 cases of cheating and fraud against the family in the district, police said. The firm has 152 branches across the State.  

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