The Central Crime Branch (CCB) has seized ₹5.2 crore from various bank accounts and documents of immovable properties amounting to several cores of rupees in connection with a fraud allegedly perpetuated by the Ajmera Group. Over a 1,000 investors were allegedly duped by the investment firm after being promised high rates of interest. This case has similarities to the Ambidant scam.
In total, ₹33 crore in assets and cash have been seized. This includes property documents for 3.2 acres in a residential layout built by the accused in Mysuru worth ₹20 crore, 1.18 acres worth ₹6 crore on the outskirts of the city, and a residential plot in Jayanagar worth ₹2 crore.
So far, two people — co-founder Tabrez Pasha and his associate Tabrezullah Shariff — have been arrested. Efforts are on to arrest the prime accused Dastagir Shariff and others, who are on the run.
Tabrez and Dastagir had set up the firm in 2017 after renting office space near Jayanagar bus stand. The police suspect them of duping more than a thousand people.
“Investors who have not contacted CCB so far have been requested to approach the investigating officer, ACP P.T. Subramanya, and submit proof of their investments,” said a senior police officer.