After the crisis came to light, an FIR was filed on September 30 last year by the EOW against Jignesh Shah (Promoter-Director of NSEL), another Director Joseph Massey and others, charging them with cheating, forgery, breach of trust and criminal conspiracy, among other offences.
The EOW has so far arrested six accused in the scam. They are former NSEL CEO Anjani Sinha, two mid-level executives of the exchange Amit Mukherjee, Jay Bahukhundi; NK Proteins MD Nilesh Patel and Lotus Refineries CMD Arun Sharma, also a film financier, and Surender Gupta, MD of PD Agroprocessors.
NK Proteins and Lotus Refineries were among the biggest NSEL defaulters. A 9,100-page chargesheet against the first five arrested accused was also filed in January. However, the chargesheet did not mention the names of Jignesh Shah and Joseph Massey, who allegedly played key roles in the fraud.
To recover investors' money, the EOW has invoked MPID Act, which empowers police to attach immovable assets of the accused.
