The Noida (Gautam Buddh Nagar) police on Sunday said it has arrested one person in connection with a ponzi scheme through which crores of rupees had been collected from gullible investors. The accused, Abhilaakh Singh alias Ashu, was absconding for a long time and was nabbed on Saturday from his home in Etah district of Uttar Pradesh by a team from Phase III police station here, officials said.
The attached properties belong to promoter Nowhera Shaikh, arrested by the ED in the case, of Heera Group of Companies and others, and are spread across multiple states. The agency has issued a provisional order under the Prevention of Money Laundering Act (PMLA) for attachment of the assets valued at Rs 299.99 crore.
Over 300 kg of fak gold bars were recovered from IMA Group Ponzi scam's mastermind's, hidden under the swimming pool on Wednesday. According to PTI report, the Special Investigation Team (SIT) probing the multi-crore IMA scam seized 303 kg of fake gold bars hidden under the swimming pool in the sixth floor of a building in Bengaluru belonging to group owner Mohammed Mansoor Khan.
The search operations, which began in the morning, was spread in seven districts -- Bankura, Hooghly, Howrah, Bardhaman, Jalpaiguri, Paschim Medinipur, Purba Medinipur -- and Kolkata, officials said.
Stepping out of the jail, Reddy told reporters that he was named as an accused without evidence and accused Karnataka Chief Minister HD Kumaraswamy of taking revenge on him by dragging him in the Ponzi case.
Earlier on Saturday, Reddy, who had been 'missing' since last three days, appeared before the police.
Bhubaneswar: Odisha assembly was adjourned minutes after its winter session commenced today as the Opposition raised slogans and Congress members stormed into the well alleging involvement of ruling BJD leaders in the ponzi scheme scandal
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