Austrian woman alleges Kerala man cheated her of Rs 3.5 crore; files complaint

By Aishwarya Nair | First Published Sep 2, 2024, 8:41 AM IST

Parvathi Reicher, an Austrian national who started a meditation center in Kerala, alleges that her business partner, Ajith Babu, defrauded her of ₹3.5 crore by exploiting her lack of local knowledge.

Kochi: A complaint has been filed alleging that a foreign woman who started a private venture in Ayyampuzha, Ernakulam, was defrauded of Rs. 3.5 crores by the company director. Parvathi Reitscher, an Austrian national, has lodged a complaint against Ajith Babu, a resident of Chovvara. Parvathi claims that Ajith collected money under the pretext of giving it to a state minister and threatened her when she raised the issue.

Four years ago, Parvathi, who was adopted from Lucknow, came to Kalady with her daughter to explore her Indian heritage. She acquired 3 acres of land and founded a meditation center called the "Mahamaya Center of Consciousness." Due to Indian legal requirements for foreigners, one of the institution's directors needed to be an Indian citizen. This is how she became acquainted with Ajith Babu, the brother of the center's architect. However, Ajith, whom she trusted and involved in the project, eventually deceived her and fraudulently took Rs. 3 crore from her.

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Parvathi was manipulated due to her unfamiliarity with local practices. Ajith exploited this by convincing her that her daughter's kidney medication, which cost less than Rs. 500, was priced at Rs. 55,000. Over ten months, Ajith defrauded her of Rs. 1.9 crore. He also claimed that Rs. 19 lakh was required for a water purification system for the center, which Parvathi collected from international investors and paid him. Later, she learned that Ajith had only spent Rs. 3 lakh on the system. Additionally, he misled her about a new rice mill being set up in the area, convincing her to pay him Rs. 10 lakh to prevent it by claiming it was necessary to pay a minister. Parvathi, deceived by Ajith's assurances, fell victim to his schemes.

Parvathi claims that the Crime Branch, which took over the investigation from the police, is not making any progress. She alleges that after she demanded the return of her money, Ajith threatened to harm her child. As a result, she had to shut down the center. Ajith, on the other hand, insists that he has committed no fraud and claims that there is a conspiracy against him. Parvathi, who came to Kerala with a decision to live in India and provide a better life for her child, is now facing severe financial difficulties.

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