Kottayam: K.V. Viswanathan, 68, owner of the Kunnathukalathil Jewellery group, ended life on Saturday, police said. The jeweller who was also into banking and chit business went atop the SH Medical Centre Hospital where he's undergoing treatment and jumped to death around 8.15 am.
Doctors declared him dead a few minutes later. He was under investigation by the Crime Branch on complaints of investors of the Chitty fund run by him, wife and sons in law. The police had arrested them a few months back after protests by more than 500 investors and were out on bail.
Kottayam district police chief S. Harisankar who investigated the case found financial indiscipline and diversion of funds into other businesses and nonpayment of interests on deposits.
He recommended the DGP to entrust a special team to investigate the case as it involved a massive amount of money.
"At his time the businesses were going well and had a good reputation. However, after his sons in law began diverting funds into real estate and their other businesses things began to deteriorate," Mr Harishankar told DC.According to the statement given by Mr Viswanathan to the High Court, he had assets worth Rs 150 crore and liability close to Rs 300 crore.
There are at least 18 cases for cheating registered against Mr Viswanathan, according to the sources from the police.
As liabilities started mounting, he filed a pauper suit at the Kottayam sub-court, which appointed a receiver, who searched his businesses and took estimates. The police released his body to relatives after the autopsy.
