Probe into DSP’s 68L graft

The officer, Mohamed Balulullah, who served as DSP in the Economic Offence Wing, is now DSP, District Crimes Record Bureau, Thiruvarur. 

DVAC documents reveal that an EOW internal enquiry unearthed how Balulullah had collected Rs.68.91 lakh cash and household articles from the MD of the company through his administrative executive Mohamed Rizwan. He had threatened to register a case against Grow Rich Foundation, for collecting investment money from the public without proper approval from the regulatory commission. 

Grow Rich Foundation was started by SS Sundaram and his friend Mahadevan in 2011 for deals in share market, commodity market and real estate. Sundaram was arrested by EOW for allegedly cheating many people after collecting money to the tune of over Rs 100 crore by promising depositors 18 per cent returns. As he failed to fulfil his promise, many depositors started lodging police complaints.

In 2012, Grow Rich issued ads in newspapers and websites and collected deposits with guaranteed monthly return of 10 per cent up to 24 months with 100 per cent capital guarantee in forex commodity training besides promising referral income similar to multi-level marketing.  In the same year SEBI alerted EOW about the firm.  

Based on the letter, an EOW inspector conducted preliminary enquiry and submitted report to the SP in January 2013. In September the same year, Balulullah submitted a sourced information report saying Grow Rich collected funds from the public with an intention to cheat. 

He also initiated a probe against the firm, but for the next one year collected the bribe on various occasions, the FIR stated.