The Enforcement Directorate (ED) on Thursday filed a prosecution complaint against Ajmera Group members in a 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 had been used for purchasing movable and immovable property and other investments amounting to money laundering, said officials.
The ED initiated a money laundering investigation on the basis of an FIR registered in April 2018 at the Jayanagar police station, in which the Central Crime Branch had filed a chargesheet against the accused subsequently.
Investigation by ED revealed that Tabrez Pasha and Abdul Dastagir opened the said partnership firm under the banner of Ajmera Group and accepted deposits from the public, without obtaining any licence or required permission from the respective authorities and without registering the business entity as an NBFC.
Allegedly with a fraudulent intention to cheat the public, Ajmera Groups illegally collected funds/deposits from numerous investors to the tune of ₹256.06 crore with a promise of an exorbitant rate of interest on the investments, said officials.
Though the accused have returned ₹183.9 crore, they failed to return ₹72.9 crore to the investors and thus cheated the public, ED alleged.
The accused allegedly siphoned off and diverted money of the investors for themselves and their accomplices.
Earlier in the case, movable and immovable properties worth ₹8.41 crore were provisionally attached by ED. Further investigation into the matter is under progress.
