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Sabarinath, the flamboyant main accused in the ₹50-crore ‘Inest and Total For U’ money chain scam, who had jumped bail two years back, surrendered in a court on Monday.
The young man, along with his associates, had allegedly duped around 1,000 investors promising them high returns. He was arrested in 2008. The money chain enterprise had collapsed and his associates had left him.
He came out of jail on bail in March 2011 but jumped bail and went underground. On Monday, Sabarinath surrendered before the judicial first-class magistrate, Thiruvananthapruam. He pleaded with the magistrate to be sent to the Central Prison as he feared for his life.
Sabarinath, the dark, lanky man with a skill to influence people, had amassed huge wealth in a brief time and acquired a fleet of expensive cars.
He had collected deposits from the public with false promises of high profits from his trading in the global share and commodity markets.
Several criminal cases, including one for allegedly kidnapping and raping a girl, are pending against him.
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