Tuesday, February 9, 2016

Police get 11-day remand of Ponzi scamster Mewada

The CID (crime) investigators probing the multi-crore Jay Khodiyar Mitra Mandal (JKMM) and Deep Capital Services Pvt Ltd (DCS) scam, have got 11-day remand for one of the prime accused, Raju Mewada, from a court on Tuesday. Mewada is the first arrest in the case, and was nabbed from Gandhinagar on Monday.


"While evidence against him had been collected beforehand, his questioning will take place to understand the functioning of these firms, and role of various accused involved," said a CID official.

According to CID (crime) officials, Mewada was inspired by millionaires, and even has a tattoo of Dhirubhai Ambani on his arm. He studied up to class XII after which he did odd jobs, and after reading a few books on success, decided to get rich quick. He joined hands with other accused to float chit fund schemes for two-wheelers, four-wheelers and houses.

CID (crime) started filing complaints against the firms in all of its six zones from February.

CID to be complainant against Ponzi firms

 Senior officials of state CID (crime) decided on Saturday to register complaints against the promoters of Jay Khodiyar Mitra Mandal (JKMM) and Deep Capital Services Pvt Ltd (DCS) for cheating and flouting norms in all six zones on behalf of the state government. The move came after the primary complainant in the case withdrew his plea in the court with an affidavit recently.


According to state police officials, the companies had shown turnover of Rs 83.44 crore to Reserve Bank of India (RBI) officials in 2015. CID had got 30 applications in past 20 days regarding cheating and breach of trust amounting to over Rs 30 lakh.


Pramod Kumar, DGP CID (crime), told TOI that the decision has been taken after reviewing the scope of the case. "Victims are across the state and thus all six zones of CID (crime) have been asked to investigate and register cases," he said.


Officials said that the primary charge against the firms is flouting of RBI norms for collecting funds from public. The companies had promised the investors two and four wheelers and better returns against their monthly or lumpsum payments. So far, CID officials have raided 20 offices belonging to these firms in Ahmedabad, Kheda, Anand, Rajkot, Jamnagar, Surat and Vapi districts and have collected evidences against the promoters and agents.


Ponzi cases send CBI on a hiring spree


Nearly four months after the Supreme Court directed the CBI to fill up vacancies on deputation to mitigate the manpower shortage, the premier investigation agency has finally decided to recruit 300 people on deputation.

Apart from 155 constables CBI will take two DIGs, seven SPs, 12 Deputy SPs, 40 inspectors and 84 sub-inspectors who will be mainly responsible for handling chit fund cases spread over four states - West Bengal, Bihar, Odisha and Assam said a CBI officer.

The recruitment process started after an order on October 17 by the Supreme Court in which the apex court directed the central government to act efficiently and within two months from the date of the order, take steps for a comprehensive revision of the cadre strength of CBI established under the Delhi Special Police Establishment (DSPE) Act, 1946. The order comes after a CBI plea urging that currently there were over 700 vacancies at different levels but they cannot make fresh recruitment because there has been "no comprehensive revision of cadre' since its inception in 1963.


"The recruitment is mainly done to manage the chit fund scam in the four states. Unless we have adequate staff it is impossible for us to manage such a huge volume of data," a CBI officer handling Saradha scam said.

The CBI has already asked for names for the panel of officers and has started the process of recruitment of constables. West Bengal government has already sent a panel of 12 deputy SPs, eight inspectors, 20 sub-inspectors and 40 constables out of which six deputy SPs, four inspectors, 10 sub-inspectors and 20 constables will be selected."The interview part of the constables required outside the panel have already started in West Bengal. Nearly 84 candidates have given the interview so farand the selection process is going on," a CBI officer said.


"Bengal has already sent the names. The other states have also started sending their panels and we are hopeful of completing the process within 2 months," the officer added.

 CID raids 12 offices of Ponzi firms across the state


CID (crime) officials probing a multicrore scam raided 12 offices on January 18 and 19 in Ahmedabad, Kheda, Anand, Rajkot, Jamnagar, Surat and Vapi districts belonging to agents of Deep Capital Services Pvt Ltd and Jay Khodiar Mitra Mandal and collected computers and documents related to various schemes as evidence.


Court on Tuesday rejected anticipatory bail application filed by the chartered accountant who had audited the firm's financial records as the primary complainant in the case tried to turn hostile with an affidavit in the case, said CID sources.


JD Purohit, inspector and primary investigator of CID (crime) for the case, said that before the week, the investigators had primarily got complaints from Ahmedabad and the firm's offices in Ahmedabad were searched. "Now, the scope of investigation has been widened," he said. CID officials have so far got 23 applications, all from Ahmedabad, against the promoters of Deep Capital Services Pvt Ltd and Jay Khodiar Mitra Mandal, for cheating. CID officials said that of the Rs 83.44 crore turnover of the company -as submitted to the Reserve Bank of India (RBI) officials by the promoters -they have received complaints for nearly Rs 20 lakh so far. They expect the number to rise as applicants from other cities approach investigators.


According to the FIR registered by CID (crime) officials earlier this month, Nimesh Shah, a resident of Panchratna Apartment, Memnagar, accused the promoters of these two firms, including Raju Mewada, Pritesh Shah and Hiren Shah among others, of cheating.


The officials claimed that the offices of over 1,000 agents remained operational till the FIR was filed on January 4.

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