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Police recover Rs 20 cr assets in Stock Guru scam

New Delhi: Nov 28, 2012 DH News Service

Rs 63 cr seized earlier, custody of accused extended

Delhi Police have recovered property and valuables worth around Rs 20 crore after fresh raids were conducted in the Rs 500-crore Stock Guru scam at mastermind Ulhas Prabhakar Khaire’s instance in Maharashtra’s Ratnagiri district and Mumbai. The 33-year-old had set up four more firms without registration in Ratnagiri and an office in Mumbai to produce Marathi films.

Ulhas and his wife Raksha Urs, held from Ratnagiri earlier this month, are accused of duping an estimated two lakh investors through their firm, Stock Guru India, which promised lucrative returns.

“We unearthed bank drafts worth Rs 19.96 crore, an industrial plot of 750 square yards in Ratnagiri, 60 wrist watches worth Rs 50 lakh, gold jewellery worth Rs 15 lakh, eight fixed deposits totaling Rs 6.5 lakh, seven cars, two motorcycles, 48 mobile phones, laptops, a currency counting machine, an identity card printing machine and 131 cheque books of various banks,” said Sandeep Goel, joint commissioner of police (economic offences wing), adding it brings total recovery so far to over Rs 83 crore, including Rs 63 crore recovered earlier.


The raids also helped recover original property papers of various flats in Dwarka, Goa and Moradabad. Investigators further found that Ulhas possessed real-looking pistols, guns and a revolver with 400 bullets meant for toy guns and a set of mobile phone jammer with remote.

“Fake registration plates of a VIP number — DL 4CAF 0001 — with forged registration certificate and a red beacon were also found. Documents on fake identities like passports, PAN cards, ration card, e-adhar papers and bank accounts were also seized,” Goel added.

Police also got hold of spy equipment like a clock and wrist watch having facility of video recording, and a digital video recorder with wireless camera. Ulhas and Raksha had established a posh office at Shivrekar Plaza in Ratnagiri and set up four firms — Jai Bajrang Bali Security Services, Impressions Film Academy, Tirupati Bhagwan Print Media Services and Jai Bajrang Bali Creations — without registration.

“They had also published advertisements in several local newspapers for stock trading services, print media services and acting classes,” Goel said.

The couple had rented a flat at Lower Parel in Mumbai and planned to produce Marathi films. “They had even shortlisted a script named ‘Aai Kuwari Baap Brahmachari’ to be directed by Ghanshyam Agne. Rent agreement and security deposit of Rs 1.5 lakh were seized from the landlord,” Goel added.

After a hunt of one year, Ulhas and Raksha were arrested for duping people in Delhi, Uttarakhand, Himachal Pradesh, Sikkim, Rajasthan, Madhya Pradesh and Maharashtra. Delhi Police have received 14,303 complaints till date, but during investigation, about 2,05,062 investors came forward claiming to have invested Rs 10,000 or more. The duo was managing to evade arrest by hiding in Moradabad, Dehradun, Alwar, Nagpur and Goa.

In Ratnagiri, the couple was living with fake names of Sidhharth Jay Marathe and Maya Marathe, along with their three children. Raksha was sent to judicial custody on November 16, while Ulhas was produced before court on November 24. The court extended his police custody for 14 days in another case filed in April, 2011.

 

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