Pramesh S Jain & Dr.Thomas (Special Correspondent)
The Enforcement Directorate (ED) on Thursday filed a prosecution complaint against Ajmera Group members regarding alleged money-laundering case .
The Complaint before the Principal City Civil and Sessions and Special Court alleged that the accused in the case identified as Tabrej Pasha, Abdul Dastagir,Syed Muthaheer and Fairoz Khan collected huge amount of deposits from investors promising high returns and cheated them.
The money collected from depositors have been used for purchasing movable and immovable property and other investments amounting to money laundering .
ED initiated money laundering investigation on the basis of FIR registered on April 2018 at Jayanagar Police Station,and later CCB took over the case and filed charge sheet against the accused subsequently .
Investigation by ED revealed that Tabrez Pasha and Abdul Dastagir opened the said partnership firm under the banner Ajmera Groups and accepted deposits from the general public without obtaining any license or required permission from the respective authorities including SEBI and RBI and without registering the business entity as NBFC.
With a fraudulent intention to cheat the common public,Ajmera Groups illegally collected funds/deposits from numerous investors to the tune of Rs.256.06 crores with a promise of an exorbitant rate of interest on the investments .
Though the accused have returned an amount of Rs.183.9 Crores.
However,it failed to return the amount of Rs.72.9 crores to the investors and thus cheated the common public.
The accused siphoned off and diverted money of the investors for their personal gains and for the gain of their accomplices and thereby generated proceeds of crime and laundered through buying movable and immovable properties from the said proceeds of crime.
Earlier in the case,movable and immovable properties worth Rs.8.41 Crore have been provisionally attached by the directorate .
Further investigation into the matter is under progress says a release released by Enforcement Directorate officials.
