BENGALURU: The Directorate of Enforcement (ED) has filed a Prosecution Complaint (PC) before the Principal City Civil and Sessions Judge and Special Court in Bengaluru against Ajmera Group, represented by its partners Tabrej Pasha and Abdul Dastagir; MF Enterprises represented by its partners Syed Muthahir and Fairoz Khan, Pasha, Dastagir, Mudasir, Khan and Muthahir. The court has taken cognisance of the PC, the ED stated in a release on Friday.
The ED stated that the accused had derived proceeds of crime and have directly indulged in the process or activity connected with proceeds of crime including its possession, acquisition and projecting or claiming it as untainted property and are guilty of the offence of money laundering.
The agency had initiated money laundering investigation on the basis of an FIR dated April 26, 2018 filed at the Jayanagar police station under various IPC sections and sections 5, 38, 39 & 41 of the Prevention of Money Laundering Act. Subsequently, based upon the FIR, chargesheet (Part I) dated January 19, 2019 and chargesheet (Part II) dated March 5, 2019 were filed by the Central Crime Branch, Special Enquiry, Bengaluru before the City Civil and Sessions Judge Court, Bengaluru under Sections 120(B), 409, 420 r/w 34 of IPC.
The ED investigation revealed that Pasha and Dastagir opened the partnership firm Ajmera Groups and accepted deposits from the public without obtaining any license/permission from the SEBI and RBI and without registering the business entity as NBFC.
“With a fraudulent intention to cheat the common public, Ajmera Groups illegally collected funds/deposits
from numerous investors to the tune of Rs 2,56,06,90,338 with a promise of an exorbitant rate of interest on the investments and returned an amount of Rs 1,83,97,04,264. However, it failed to return the amount of Rs 72,09,86,074 to the investors and thus cheated the common public,” the ED has charged.