EOW to attach immovable assets of Jignesh Shah, Joseph Massey
Mumbai: The Mumbai police probing the Rs 5,600-crore payout scam involving the National Spot Exchange Ltd (NSEL), has attached all 166 properties of defaulters it has identified so far and is all set to attach immovable assets of NSEL directors, including Jignesh Shah and Joseph Massey, a senior police officer said Tuesday.
"About 166 properties that include residences, offices, industrial units and lands of defaulters or borrowers had been identified for attachment. As of today, all of them have been attached," Additional Police Commissioner (Economic Offences Wing) Rajvardhan Sinha told PTI.
The EOW is currently preparing to attach immovable assets of Shah, Massey and other directors of the crippled spot exchange, Sinha said.
"The attachment of directors' properties may be completed in a few days," he said, adding, "Shah and Massey turned up at the EOW office today to discuss and bring certain issues to the notice of investigators".
The IPS officer said investigators did not summon the two for questioning today.
So far, the EOW has arrested five people in the case-- Anjani Sinha, Amit Mukherjee and Jay Bahukhundi of the NSEL, as well as borrowers like N K Proteins Managing Director Nilesh Patel and Lotus Refineries Chairman Arun Sharma, who is also a movie financier.
Investigators have found Rs 145.57 crore in various bank accounts which were frozen during the probe.
The EOW has invoked the Maharashtra Protection of Interest of Depositors Act in the case, which empowers them to attach immovable assets of the accused.
Some of the largest borrowers of NSEL include companies like Mohan India, N K Proteins, Laxmi Group, MSR Food Processing and Swastik Group.
An FIR was filed on September 30 by the EOW against Shah, Massey, other promoters, directors and defaulters charging them with cheating, forgery, breach of trust as well as criminal conspiracy, among others.
The spot commodity bourse, promoted by the Jignesh Shah-led Financial Technologies (FT), has been facing problems in settling Rs 5,600 crore dues of 148 member brokers, representing 13,000 investor clients, after it suspended trading on July 31 after government directions.