ALUVA: The police on Monday conducted a raid on the office of a construction company, which allegedly was running a money chain business, in Aluva. Various documents which proved cheating to the tune of `5 crore were also seized. The raid was carried out on the office of Verison Builders and Developers in Pariyaram Buildings on the Bypass here. The team led by Special Branch DySP Anil Kumar acted on the instructions of IG R Sreelekha and Ernakulam Rural Police Superintendent T Vikram.The police said the public which approached Verison Builders seeking details of flats and villas, were forced to remit `1,000 in Verison Builders or `6,000 in Encord Financial Services, a sister concern of Verison Builders, after offering attractive terms. Around 25,000 people have deposited money in the project, which is said to be a money chain business. Company owners, Bijo Sebastian of Pala, Sandeep K Jose of Kalamassery and Sunil Hendez are absconding. There are 13 employees in the office.The police said that the company had 21 residential flats at Choondy near here and ran a mineral water production unit at Mannoor near Muvattupuzha. A case has been registered against the owners of the company for breach of trust and cheating. A detailed investigation into their business ventures is also on.
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