400-odd depositors attend meeting convened by Total 4 U Action Council
Sabarinath’s properties cannot be attached
Thiruvananthapuram: Hundreds of depositors who invested money in ‘Total 4 U’ run by financial fraud suspect Sabarinath have gone home dejected on learning that the chances of getting their money back are bleak.
The depositors came in large numbers at a meeting convened by the Total 4 U Action Council at the Theerthapada Mandapam at East Fort on Wednesday. The depositors came in the hope that they would get the money soon.
Before the meeting began, many could be seen sharing with friends the agony they were undergoing after Sabarinath was arrested by the police. All of them wanted to know when they would get the money they had invested in the firm on the hope of getting higher returns.
Surprisingly, there were many youngsters in the 400-odd depositors who gathered at the venue. They were seen weeping and requesting help for getting the money back.
Kamalam, a housewife from Peroorkada, said she deposited the money for her daughter’s education. “I am in a precarious situation as my daughter’s education will come to an end if the money deposited with the firm is not obtained. I have no option other than to take the extreme step,” she said.
Like Mrs. Kamalam, many narrated how they fell into the trap to make quick money.
Tense moments were witnessed as a section of the people spoke in favour of Sabarinath and said he would return the money once he came out of the prison.
Sudheer, of the action council, said he had called on Sabarinath at the prison recently and he had told him that he would return the money to all depositors.
Legal advisor to the action council, Josh Rajan, told the depositors that since the properties of Sabarinath were not registered in his name, they could not be attached and hence it was difficult to get back the deposits.
Mahila Congress president Shanimol Usman was among those who spoke at the meeting.