Firm's promoter Mahesh Kisan Motewar and others accused of cheating 20 lakh people
New Delhi:
Immovable properties worth Rs 101 crore of Samruddha Jeevan Foods India Ltd have been attached by the Enforcement Directorate (ED) on Tuesday in an alleged Ponzi scheme case.
The Pune-based firm's promoter, Mahesh Kisan Motewar, and others have been accused of cheating 20 lakh people across the country of Rs 3,500.
In June last year, the ED had attached properties worth Rs 207 crore including a small helicopter worth Rs 3.43 crore. Total attachment in this case till now is Rs 308 crore.
The properties that were attached on Tuesday were bought in the name of Mr Motewar, his two wives, other family members and business associates.
The attached properties -- land, homes, shops and offices -- are in eight states including Maharashtra.
Last year, the Central Bureau of Investigation arrested Mr Motewar and his wife Leena for cheating thousands of investors.
An ED officer said some of the attached properties belong to Rajendra Singh Atarsingh Yadav, who is associated with educational institutions like Chaudhary Atarsingh Yadav Memorial Education Trust and Sai Foundation, which also runs a medical college, Siddhant School of Medical Science, in Uttar Pradesh's Mainpuri.
ED officers said Mr Motewar collected money with Ponzi schemes and diverted them for personal use. They said he was helped by many of his family members, relatives and office staff for running the Ponzi scheme through a network of 34 companies.
With inputs from IANS
The Pune-based firm's promoter, Mahesh Kisan Motewar, and others have been accused of cheating 20 lakh people across the country of Rs 3,500.
In June last year, the ED had attached properties worth Rs 207 crore including a small helicopter worth Rs 3.43 crore. Total attachment in this case till now is Rs 308 crore.
The properties that were attached on Tuesday were bought in the name of Mr Motewar, his two wives, other family members and business associates.
The attached properties -- land, homes, shops and offices -- are in eight states including Maharashtra.
Last year, the Central Bureau of Investigation arrested Mr Motewar and his wife Leena for cheating thousands of investors.
An ED officer said some of the attached properties belong to Rajendra Singh Atarsingh Yadav, who is associated with educational institutions like Chaudhary Atarsingh Yadav Memorial Education Trust and Sai Foundation, which also runs a medical college, Siddhant School of Medical Science, in Uttar Pradesh's Mainpuri.
ED officers said Mr Motewar collected money with Ponzi schemes and diverted them for personal use. They said he was helped by many of his family members, relatives and office staff for running the Ponzi scheme through a network of 34 companies.
With inputs from IANS
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