Andhra Pradesh Crime
Investigation Department has attached the movable and immovable properties of
Surat-based New Look Traders also known as NMart. The fixed deposits Rs. 2.61
crore parked in various banks throughout the country and immovable properties
situated in Surat, Gujarat worth about Rs. 9.27 crore have been attached by the
CID.
It may be recalled that following a
complaint lodged by Vijayawada-based Corporate Frauds Watch, the then
superintendent of police of Prakasam District Dr Kolli Raghuram Reddy
registered a criminal case against the NMart for indulging in illegal money
circulation scheme offering huge returns in a short span of time.
The police have also frozen the accounts of
NMart at that time. The chairman of NMart, Gopal Singh Shekhawat, was arrested
and thrown behind bars. The Prakasam police have also identified the immovable
properties belonging to Gopal Shekhawat in Surat and other places after
freezing the bank accounts in various banks throughout the country.
The NMart has mobilised deposits from
people of various districts in the then undivided State of Andhra Pradesh and
all over the country too. After enrolling members into the scheme by collecting
Rs. 5,500 per member, the NMart also induced them to enrol more members into
the scheme with an incentive of Rs. 200 per member.
Subsequently, the case was transferred to
the CID for further investigation.
The CID officials attached the properties
which would be subsequently auctioned and deposited with the government.
No comments:
Post a Comment