Kasaragod.  The Kasargod police have arrested one Sajith (29) said to be the Director of Global Trading Solution Company which has reportedly defrauded several people of crores of rupees. According to reports, the  firm cheated people to the tune of nearly Rs 400 crores.

It is said Sajith’s wife Khadija Nausha, Usha Kumari from Chervattur and Abdul Naser from Ernakulam are the board of directors. It is learnt all of them have fled the nation even as the police have launched a manhunt for them.

Reports said the company used to attract investments from people after promising double returns to their investment by investing in foreign exchange.

The company authorities, it is learnt, went missing after they held a meeting of depositors in a school of Kasargod on December 1, 2011 to collect deposit receipts.

It is now learnt that the company has been merged with a Dubai company and even the investments transferred.

The Special Crime Branch is investigating under the leadership of SP Thomson Jose.