Kalpetta, Thursday, June 16, 2011: The Kalpetta Chief Judicial Magistrate Court today rejected the bail plea of the accused in connection with the Bizzare money chain fraud case. The accused have been handed over to police custody for four days.

Meanwhile another person identified as Saleem, a native of Puthur has also been taken into custody in connection with the case.

Earlier report:-

The Police had earlier arrested eight persons including MD of Bizzare Network Marketing Group in connection with Bizzare money chain fraud.

The police took 48 persons into custody from the meeting place and after questioning, 40 were released. The Bathery judicial first class magistrate remanded them. They were shifted to Vaithiri sub jail.

The case was registered as per the complaint by 30 persons who were subjected to fraud by the group. A special team lead by Mananthavadi DySP has been probing the case. Police is of the opinion that the group had enrolled 5000 persons by charging Rs 5500 as membership fee.