New Delhi: The Enforcement Directorate (ED) has attached properties worth Rs 8.41 crore of a Bengaluru-based company in connection with money laundering probe in multi-crore ponzi or chit fund 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 & 1 Demat Account) held in the name of M/s. Ajmera Groups, its partners & others.
The ED case stems from an FIR and chargesheet filed against the company and its promoters Tabrez Pasha, Abdul Dastagir, Tabrez Ulla Shariff, Syed Mudasir, Syed Muthahir and Fairoz Khan for “illegally” collecting funds from 1,148 depositors and “failing” to return Rs 29.17 crore.
The police case was filed under various sections of the Karnataka Protection of Interest of Depositors in Financial Establishments Act, 2004 (KPIDFE) and the Price, Chits and Money Circulating Banning Act of 1978.
Investigation revealed that M/s Ajmera Groups illegally collected deposits amounting to ₹ 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 M/s Ajmera Groups failed to return the amount of ₹ 29.17 Crores to the depositors.
“Investigations revealed that these funds were embezzled and transferred to various unrelated accounts of Ajmera Groups or the depositors and further invested in immovable and movable properties,” the ED alleged.
