CB suspects Maddineni had global connections

KOCHI: The investigation team under the Crime Branch(Economic Offences Wing) suspect that Harish Maddineni who was arrested in the Nano Excel money chain fraud case had international connections, while he operated from Chennai in 2001.  The accused formed companies in Chennai in 2001 and 2002, which had Malaysian connections.Sources in the police said that,in 2001, Maddineni operated a food materials networking company named Oneline CC India Pvt Ltd in Chennai.This company reportedly had office in Malaysia also. He introduced himself as Dr Hari before the investors. Then, he absconded  with the money in 2002, cheating more than 100 investors.In 2002, Maddineni started another food networking company named Nuyu India Pvt Ltd in Chennai.This time he changed his name from Dr Hari to Dr Harish Karanam so that people won’t  recognise him in connection with his past escapades.In 2004, Maddineni ran away with all the money invested and more than 300 people were cheated. He reportedly admitted before the police that the company earned the patronage of a Malaysian King and had its base in Malaysia. Later in 2006, Maddineni who hails from Hyderabad landed at Thrissur and started the Nano Excel money chain company.The total estimate of the money he garnered from the economic frauds in Kerala runs over 500 crores which is said to be one of the largest frauds ever reported from the state.The Crime Branch has charged Maddineni with more than 70 economic offense cases. Also, more than 150 such cases are yet to be handed over to the Crime Branch. Harish Maddineni is currently in the custody of Andhra Pradesh police, as he is the accused in several financial offence cases there. He will be handed over to Kerala Police by next week, after the Andra Pradesh  Police finish questioning him.