Nagpur: Properties of fraudsters, who duped several investors to the tune of over Rs100 crore in multi-level marketing Metrovision and crypto-currency scam, are likely to be auctioned to refund the money to the depositors. Zonal DCP Noorul Hasan has prepared a proposal to that effect and the same will be put up before the collector soon.
The police have already recovered properties, including substantial cash, worth around Rs2.25 crore after arresting 12 persons.
On Thursday, masterminds of the scam — Vijay Gurnule, Devendra Gajbhiye and Tanmay Jadhav — were sent to jail by a magistrate’s court. Two more accused — Sunil alias Sonu Shrikhande and his friend Shweta Dongre — are still in police custody remand. They would be produced before the court on December 7.
Hasan told TOI that the process to auction the properties of the culprits under Section 3 of the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999, would be initiated to ensure maximum depositors get their money back.
“We are now compiling list of movable and immovable assets, bank account details and other properties of the scamsters. Similarly, we are also preparing a list of the scam victims. After the exercise is completed, the police will try to make up for the losses of the investors by auctioning the properties,” said the DCP.
“Though some of depositors have got their due returns, but most of them have suffered losses after falling prey to the scamsters,” he said.
According to a senior official, police teams have gone to different locations across Vidarbha for recovering more properties, which the fraudsters amassed through the investors’ money.
“During custodial interrogation, the accused have confessed to have bought more properties and the documents concealed at different places. Seizure of such properties will help us add to our already substantial recoveries,” said the officer.