ED has imposed a Prosecution Complaint Against Ajmera Group. The group was involved in the cheating case. It has officially filed the case in the special court at Bangalore against the Ajmera Group.
Understanding the Ajmera Group Case
The Karnataka State Police investigated the case in detail through the FIR.
- Ajmera Group, Partners, Tabrej Pasha and Abdul Dastagir
- M.F.Enterprises, Partners Syed Muthaheer and Fairoz Khan
- Tabrej Pasha
- Abdul Dastagir
- Syed Mudasir
- Fairoz Khan and
- Syed Muthahir.
The court has investigated a detailed understanding of the Prosecution Complaint. The accused person is involved in the criminal activity. It also involves the proceeds of crime as a whole. It includes possession, acquisition of the property. Money laundering activities took place in this case.
As per the FIR dated on 26.04.2018 ED has started money laundering investigation. This investigation was initiated by Jayanagar Police Station, Karnataka under IPC Section 5,38,39 &41 of the Money Lending Act.
At the time of investigation ED exposed that Tabrez Pasha and Abdul Dastagir partner of M/s Ajmera Group. They were involved in accepting the deposits from general public that didnt get any license from the respective authorities, i.e SEBI, RBI etc.
The main intention of the M/s Ajmera Group is to fraudulently cheat the general public that gathered the deposits illegally the amounted to Rs. 2,56,06,90,338/-. They promised to give the rate of interest and also return the amount of Rs 1,83,97,04,264/-.
However it didn’t comply to return the amount of Rs. 72,09,86,074/ to investors. It has cheated the general public. The partners played a major role in the case as they diverted the money of the investors for their personal gains. It generated the proceeds of crime.
In the earier cases, it has involved both movable as well as the immovable properties for Rs. 8.41 Crore that ED had taken action against the same under the Prevention of Money Laundering Act.
