September 10th, 2011
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Nano excel prime accused in Thrissur

Wadakkanchery: Managing Director of Nano Excel group and prime accused in the Nano excel money chain fraud case, Harish Babu Maddineni was  brought before Thrissur chief Judicial Magistrate Court.

Harish, allegedly engaged in carrying out multi-level marketing scheme in the guise of selling nano technology products, was absconding after the Excel money chain fraud case was busted by Kerala Police in July this year with the arrest of other accused involved in the racket.

Those who were enrolled as distributors with the company were lured with offers of good commission and over two lakh distributors/members were enrolled and subscriptions worth Rs 347 crore was collected though Rs 302 crore was repaid as commission.


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