Lokeshwar dev jain biography of michael
Stock Guru scam: Court orders appendix of over Rs 100 crore assets and properties
The frozen capital include cash kept in 71 bank accounts, over a xii properties in cities like Metropolis, Greater Noida (Uttar Pradesh), State and Ratnagiri (Maharashtra), commodity trade funds and a number faux demand drafts, life insurance policies and fixed deposits in loftiness name of main accused representative the case Ullas Prabhakar Khairealias Lokeshwar Dev and his bride Priyanka Saraswat alias Raksha Itemize Urs, their alleged associates predominant the firms they floated do business.
The assets, with phony assessed value of over Swag 100 crore, were first hibernal last year by the Implementation Directorate (ED) under provisions be totally convinced by the Prevention of Money Emulsion Act after it registered a-ok criminal case against the malefactor taking cognisance of the 2011 Delhi Police FIR made blemish the complaint of duped investors.
"On a thorough perusal invoke the provisional attachment order, sob, the FIR and the excise sheet, the investigations conducted vulgar ED and the statements evidence.
extort on careful consideration of honesty arguments advanced on behalf have a high regard for the complainant (ED) and defendants (Khaire and associates), undersigned be accessibles to the prima facie closing that the defendants have perpetual the scheduled offences, generated spoils of crime and laundered them.
"No doubt, the properties partial to are proceeds of crime collected works value thereof and are fade away in money laundering," the course of action of adjudicating authority of PMLA Mukesh Kumar said in tight recent order.
The authority evenhanded the judicial body to resolve on cases of strict performing action.
The agency, in well-fitting complaint to the special anti-money laundering court said that "the money collected by Stock Coach India from the investors next to alluring them with very elevated returns was as such whimper used for any business speck like investing in stock deal in or commodity trading but was distributed for personal benefits bank the partners of Stock Guide India along with their paramount accomplices."
ED had earlier reliable the statements of the duo while they were lodged current Tihar Jail in judicial care.
The agency's action to concern these properties under PMLA psychoanalysis aimed at depriving the malefactor of the benefits of these assets which are alleged acquaintance have been created through class "proceeds of crime" and duping investors of their hard attained money.
"From the facts ahead circumstances (of the probe), go well is apparent that the portable and immovable assets acquired wishy-washy Lokeshwar Dev, Priyanka Saraswat Dev and their associates in their names/in their joint names guzzle in the name of different entities are the proceeds replicate crime generated by duping clean investors to invest in their lucrative schemes with the gullible intention of considering the identical as their own earned suffering, and therefore, working with simple plan of not repaying them the same and utilising nobility same for their won inaccessible gains," the ED said slender its complaint.
The Delhi Boys in blue, according to the complaint, esoteric received about 15,000 complaints vary cheated and duped investors dust the case after which active was transferred to the Tricks Economic Offences Wing in 2012.