Actor Soubin Shahir arrested in financial fraud case; released on bail

In a significant development, actor and producer Soubin Shahir was arrested by Maradu Police in Kochi in connection with the high-profile Manjummel Boys financial fraud case. Co-producers Babu Shahir and Shaun Antony were also taken into custody after two days of intensive questioning. However, as the Kerala High Court had previously granted anticipatory bail, all three were released shortly after their arrest.

The case was filed by Siraj Valiyathura, a resident of Aroor, who alleged that the producers collected a total of ₹7 crore from him over multiple phases, promising a 40% share in profits. However, no such profits were shared, leading to charges of breach of trust and financial fraud.

Speaking to the media after his release, Soubin clarified that the entire investment had already been returned and the profit share amount was kept ready for disbursal, claiming the complaint came just as the payment was about to be made.

Police reports revealed that investors were allegedly misled into believing that the film’s first schedule had been completed, even before production began. The accused had approached the High Court seeking to quash the FIR, but their plea was rejected, allowing the investigation to proceed. The producers countered, saying that delays in investment from Siraj disrupted the production schedule, resulting in financial setbacks and postponed returns.

Manjummel Boys, directed by Chidambaram, emerged as a record-breaking Malayalam blockbuster, collecting over ₹240 crore worldwide, with notable success in Tamil Nadu and a decent performance in Telugu states despite a delayed release.

Amidst legal scrutiny, Soubin continues to expand his career, now playing a key role in Lokesh Kanagaraj’s ‘Coolie’, starring Rajinikanth, slated for release on August 14.