Unfreeze my assets, says City Limo scam accused.
MUMBAI:
Sayed Masood Jamadar, prime accused in the City Limouzine scam, urged
the Bombay High Court on Monday to find a solution to enable him to pay
back his investors.
Masood,
chairman of City Group, who has been arrested for money-laundering, by
the Enforcement Directorate (ED), urged the court to unfreeze his assets
so he can pay back investors who he had allegedly duped. The cheating
case is being investigated by the Economic Offences Wing (EOW). "Even
the police cannot do anything. Let all properties be sold and investors
be paid.,'' said A M Sachwani, Masood's lawyer.
The City Group Investors
Association, which had filed a PIL in the Supreme Court to get back its
money, called it another delaying tactic. "Before they fulfill their
assurances to court, the lawyer is changed," said Mubin Solkar, the
association's lawyer. The judges adjourned the hearing by two weeks,
permitting Masood to file his say.
Masood's assets were frozen after he was arrested by the ED under the Prevention of Money Laundering Act.
But on the back of the PIL, Masood urged the court to let him pay back
investors in the case of cheating registered against him by the EOW.
Solkar
said the police must tell the court what action has been taken in other
cheating cases registered against him.Sachwani sought time to bring the
facts on record and said despite the Supreme Court saying Masood may
run his company, his accounts have been frozen and properties seized.
He was arrested in Delhi on December 14, 2012 by the Enforcement Directorate on charges of money laundering.
Even
the police cannot do anything. Let all the properties be sold and
investors be paid. Some solution must be found,'' he said. Solkar
objected saying similar statements are made by every lawyer appearing
for Masood. Before they fulfil their assurances to the court the lawyer
is changed,'' said Solkar. Allowing Masood to file his say, the judges
adjourned the hearing by two weeks.
