5.6K CR FRAUD
Mumbai: The economic offences wing (EOW), probing the Rs 5,600-crore cheating case involving NSEL and other companies, has found that the accused in the fraud have usurped over Rs 150 crore in the form of commission. EOW officials said that they have started analyzing the properties and other assets of the accused so that they could attach it at the right time.
Rajvardhan Sinha, additional commissioner of police, EOW, told TOIthat the police were scrutinizing the seized books of accounts and corroborating the statements and information provided by the two arrested — Amit Mukherjee and Jay Bahukhandi.
On the high court’s directions, EOW officials on Tuesday met with FMC officials to discuss the investors’ losses. “We will file a report in the court on October 18,” Sinha said. While the police have questioned 41 suspects so far, more than 30 have not turned up citing health and other reasons.
The FIR, filed by an investor Pankaj Saraf on September 30, has been registered under sections involving forgery, criminal breach of trust, cheating and criminal conspiracy against several people, including NSEL chairman, Jignesh Shah.
Mukherjee (40) was arrested after his role was established in the alleged scam. His statement led to the arrest of Bahukhandi who was incharge for KYC verification of companies, customer authorization of members and warehouses in NSEL. Mukherjee told police that it was Bahukhandi who was responsible for verification of warehouses and directors.
The EOW, said sources, may invoke the stringent Maharashtra Protection of Interest of Depositors (MPID) Act against all the accused.
The Times of India, October 15, 2013