ED attaches Rs 8.41 cr assets in ponzi scheme case of Bengaluru
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Directorate of Enforcement (ED) on Tuesday said it has attached assets worth Rs 8.41 crores in a ponzi scheme case in Bengaluru.
The ED officials said that the attached assets were in the form of two immovable properties (an agricultural land and a residential plot) and 14 movable properties that were 13 bank accounts and one demat account held in the name of Ajmera Groups, its partners and others.
The central probe agency initiated the investigation on the basis of FIR of Jayanagar Police Station, under section 406, 420 of IPC and Sections 5, 38, 39 and 41 of Karnataka Money Lenders Act, 1961.
A charge-sheet has been filed before the Bengaluru Civil and Session Judge Court against Ajmera Groups, Tabrez Pasha, Abdul Dastagir, Tabrez Ulla Shariff, Syed Mudasir, Syed Muthahir and Fairoz Khan for illegally collecting funds from 1,148 depositors totalling to Rs 34.66 crores and failing to return Rs 29.17 crores to the investors.
The investigation so far, revealed that Ajmera Groups illegally collected deposits amounting to Rs 256.06 cr from various persons by luring the gullible investors with a promise of higher rate of Interest as high as 20 percent per month.
“Such higher rate of interest was not possible in any prudent way and the accused Ajmera Groups failed to return the amount of Rs 29.17 crores to the depositors”, the probe agency officials said.
The illegal collected amount were deposited in various bank accounts which were embezzled and transferred to various unrelated accounts of Ajmera Groups or the depositors. These amounts were further invested in immovable and movable properties, the officials added.
On identification of these assets totaling to Rs 8.41 cr held in the name of Ajmera Groups, a provisional attachment order has been issued under PMLA,the ED said,adding that further investigation in this case is under progress.
