Pramesh S Jain
The Enforcement Directorate (ED) on Tuesday said that it has attached the properties of Ajmera Group to the tune of Rs 8.41 crore in a money laundering case related to ponzi scheme.
Directorate of Enforcement (ED) has attached the movable and immovable properties of Ajmera groups,which has been booked for duping thousands of investors offering huge returns.
The Provisional Attachment Order under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA) attaching assets worth Rs 8.41 crores in a Ponzi Scheme case.
The attached assets are in the form of two immovable properties,(an agricultural land & a residential plot) and 14 movable properties (13 bank accounts and 1 Demat Account) held in the name of Ajmera Groups,its partners and others.
Investigation under PMLA was initiated on the basis of FIR filed in Jayanagar Police Station last year and Charge-sheet has been filed before the City Civil and Sessions Judge Court against Ajmera groups and it’s members Tabrez Pasha, Abdul Dastagir,Tabrez Ulla Shariff,Syed Mudasir, Syed Muthahir and Fairoz Khan for illegally collecting funds from 1148 depositors totalling to Rs.34.66 Crores and failing to return Rs 29.17 Crores.
Investigation conducted under PMLA revealed that Ajmera Groups illegally collected deposits amounting to Rs 256.06 Crores from various persons by luring the gullible investors with a promise of higher rate of Interest (of upto 20% 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 illegal collected amount were deposited in various bank accounts.Investigations further revealed that these amount was embezzled and transferred to various unrelated accounts of Ajmera Groups or the depositors.
These amount were further invested in immovable and movable properties.On identification of these assets totaling to Rs.8.41 crores held in in the name of Ajmera Groups,a provisional attachment order has been issued under PMLA.Further investigation is in progress,the ED officials said.
