Justice G. Girish directs public prosecutor to file a comprehensive status report on the cross-border investment scam involving a fictitious “Indo-US-Pacific Peace Treaty” and bogus weapon export contracts.
High Court Seeks Investigation Update on Multistate Scam
The Kerala High Court CBI probe investment scam case moved forward after Justice G. Girish directed the Kerala Police to submit a detailed progress report. The petition seeks a Central Bureau of Investigation (CBI) inquiry into an alleged ₹700 crore fraud linked to a fictitious United States defence project. The Court also issued notices to the CBI, the Ministry of Home Affairs, and the Ministry of Corporate Affairs. Meanwhile, the State Public Prosecutor must place the status of the police investigation on record before the next hearing on August 18, 2026.
Fictitious Defence Claims Allegedly Lured Investors
The case arises from allegations against VPVV Techno Construction Pvt. Ltd. According to the petition, the company persuaded investors to contribute large sums by claiming it had secured an ₹83,000 crore procurement contract from the United States Department of Defense. The promoters also referred to a so-called “Indo-US-Pacific Peace Treaty” to support their claims. However, investigators later confirmed that no such treaty exists. As a result, investors across India allegedly lost nearly ₹700 crore after relying on promises of high returns.
Victim Seeks CBI Investigation Into Cross-Border Fraud
The petitioner, A. Harikrishnan, is a retired Executive Engineer from the Public Works Department (PWD). He claims he lost money in the scheme and has asked the Court to transfer the investigation from the Medical College Police Station in Thiruvananthapuram to the CBI. According to him, the fraud extends across multiple States and may involve international elements. Moreover, he argues that the company operated from offices in Nagpur and Delhi, making a central investigation more appropriate.
Embassy Findings and Police Action
The Kerala High Court CBI probe investment scam petition also relies on communications from the Indian Embassy in Washington, D.C. The Embassy informed investors that the documents supporting the alleged defence contract were forged. It also confirmed that no such defence agreement existed.
Meanwhile, Kerala Police have arrested promoters Venkita Venkat, Aqeel Ahammed, and Rajan Malik in connection with four FIRs. In addition, investigators continue to examine the roles of Hitesh Kumar, Rahul Rajeev Nair, Rajan Pradeep Kumar Prabhakaran, and Vinod Rama Warrier Kumar. Authorities suspect they helped validate forged documents and misleading investment claims.
