CCB raids finance firm that ‘duped’ investors, two arrested

CCB raids finance firm that ‘duped’ investors, two arrested

The Central Crime Branch sleuths raided a finance firm in the city that allegedly duped over 4,000 investors to the tune of around Rs 30 crore by promising high returns.

A team of officials led by PSI Lakshmi Narayana raided the Ajmeera Group in Jayanagar 4th Block on Thursday, following a complaint filed by a businessman, D T Naveen Nanda.

Thabrez Pasha, (30), a resident of Jayanagar, and Abdul Dasthagir (30), a resident of Bismillah Nagar on the Bannerghatta Road, who were running the firm, have been arrested, the central agency sleuths said.

Documents confiscated

Numerous documents, including bank accounts and investors’ details, have been seized, they said.

The two have been booked under the IPC sections of criminal breach of trust and cheating along with various other sections of the Karnataka Money Laundering Act.

Ajmeera Group is the second such company after Vikram Investments that has been booked for duping investors, according to a CCB sleuth.

Investigations revealed they did not have permission from either the SEBI or RBI to run a financial firm.

The Jayanagar police have taken up a case and are investigating.