Latest news with #EOW
Time of India
4 hours ago
- Time of India
Key accused in Shine City fraud case held
Lucknow: The Economic Offences Wing (EOW) on Wednesday arrested Tej Narayan Shukla, a key accused in the multi-crore Shine City group of companies fraud case, from Mathura. Shukla was wanted in case number 900/2020, registered under sections 409, 420, 467, 468, 471, and 120B of the IPC at Gomtinagar police station. A cash reward of ₹25,000 was announced for any information leading to his arrest. Officials stated that Shukla faces over 10 criminal cases related to cheating and financial fraud. EOW officials confirmed that Shukla faces two more cases (887/2021 and 888/2021), also registered at Gomtinagar police station, for which non-bailable warrants were issued. According to investigators, Shukla served as the president of a 'Bahubali' team within Shine City group and played a major role in luring investors with fraudulent schemes promising high returns. After the fraud came to light, Shukla fled India along with the company's prime accused Rashid Naseem and was later apprehended in Nepal. He reportedly spent 30 days in Nepal police custody before being tracked down by Indian authorities. "Shukla is a significant link in the larger conspiracy led by Rashid Naseem," an EOW officer said, adding that further interrogation is underway to uncover more details about the group's operations and the movement of siphoned funds.
NDTV
4 hours ago
- NDTV
Tiger Hide, Assets Of Rs 6 Crore Found After Raid On Madhya Pradesh Officer
Jabalpur: The Economic Offence Wing (EOW) has raided the properties of Tribal Welfare Department's deputy commissioner Jagdish Prasad Sarvate in three cities and found assets worth Rs 6.75 crore, officials said on Wednesday. A tiger hide was also recovered during the searches, they said. The action was taken following a complaint of corruption and disproportionate assets against Sarvate, who holds an additional charge of the Tribal Welfare Department office in Sagar district. EOW teams conducted searches at his official and private residences in Jabalpur, a house and flat in Bhopal, and the official residence in Sagar, a press release said. A case was registered against him under sections 13 (1)(B) and 13(2) (criminal misconduct by a public servant) of the Prevention of Corruption Act, it added. The documents related to movable and immovable assets, household inventories, jewellery, cash and bank and insurance documents are being scrutinised, the release said. As of now, assets worth Rs 6.75 crore, including 56 bottles of expensive liquor and wine worth Rs 1,08,740, a car and two wheelers have come to light, the official said. He was also found to possess 17 fixed assets worth Rs 3.17 crore, Rs 8.35 lakh in cash, houses, a flat each in Bhopal and Jabalpur and household items over Rs 43 lakh. A 5 feet 5 inch long and 5 feet 3 inch wide tiger hide was recovered from Sarvate's ancestral house in the Adhartal area of Jabalpur on Wednesday. It was seized by the forest department. Anirudh Majumdar, senior scientist at the State Forest Research Institute, confirmed that it was a tiger hide, the release said.
India Today
5 hours ago
- India Today
Luxury cars, tiger hide: Madhya Pradesh official's Rs 6.75 crore assets exposed
The Economic Offence Wing (EOW) has raided the properties of Tribal Welfare Department's deputy commissioner Jagdish Prasad Sarvate in three cities and found assets worth Rs 6.75 crore, officials said on Wednesday.A tiger hide was also recovered during the searches, they action was taken following a complaint of corruption and disproportionate assets against Sarvate who holds additional charge of the Tribal Welfare Department office in Sagar EOW teams conducted searches at his official and private residences in Jabalpur, a house and flat in Bhopal and the official residence in Sagar, a press release said.A case was registered against him under sections 13 (1)(B) and 13(2) (criminal misconduct by a public servant) of the Prevention of Corruption Act, it documents related to movable and immovable assets, household inventories, jewellery, cash and bank and insurance documents are being scrutinised, the release of now, assets worth Rs 6.75 crore including 56 bottles of expensive liquor and wine worth Rs 1,08,740, a car and two wheelers have come to light, the official was also found to possess 17 fixed assets worth Rs 3.17 crore, Rs 8.35 lakh in cash, houses, a flat each in Bhopal and Jabalpur and household items over Rs 43 lakh.A 5 feet 5 inch long and 5 feet 3 inch wide tiger hide was recovered from Sarvate's ancestral house in Adhartal area of Jabalpur on Wednesday. It was seized by the forest Majumdar, senior scientist at the State Forest Research Institute, confirmed that it was a tiger hide, the release said.- EndsMust Watch
Time of India
5 hours ago
- Time of India
‘Discounted gold' scam sees Hyderabad techie, nine friends lose Rs 5.6 crore
Hyderabad: A city-based software engineer and nine of his friends were allegedly swindled of Rs 5.6 crore by a businessman who promised to sell them gold at heavily discounted rates. Tired of too many ads? go ad free now What began as a seemingly genuine deal — with an initial delivery of a 100-gram gold bar — soon turned into a calculated fraud, prompting the victims to approach the Cyberabad police nearly a year later. Following a complaint from the primary victim, M Ravi Teja (35), a resident of Puppalaguda, the economic offences wing (EOW) booked a case against businessman M Seshuvardhar Reddy and his aides. According to Teja, the accused was introduced to him by a friend, Vamsi Krishna, an IT professional based in the city. Reddy claimed to run a business supplying iPhones, air-conditioners, and gold at discounted rates through his company. 'Reddy said he could deliver 100-gram gold biscuits for Rs 6 lakh — nearly Rs 2 lakh below the market price,' Teja said in his complaint. To test the waters, Teja paid Rs 6 lakh in March 2024 and received a gold bar the following month. Convinced, he and nine others went on to transfer sums between Rs 15 lakh and Rs 1.75 crore through UPI, bank transfers, and cash over two months. The businessman had promised to deliver the remaining gold by June 2024, but never did. When the victims sought an explanation, they were allegedly threatened. A Rs 43 lakh cheque issued by Reddy in May 2024 also bounced due to insufficient funds. When they visited Reddy's offices in Bachupally and Gandhamguda, they found them closed and his phone switched off. After waiting almost a year in the hope of recovering their money, the victims approached the police in early July this year. Following a preliminary inquiry, the EOW filed a case on July 19 under sections 406 (criminal breach of trust), 420 (cheating), 506 (criminal intimidation) read with 34 (common intention) of the IPC, and section 5 of the Telangana Protection of Depositors of Financial Establishments Act, 1999.
The Hindu
7 hours ago
- Business
- The Hindu
₹25 crore investment fraud: Firm director held
The Economic Offences Wing (EOW) of Cyberabad police arrested Thimmiri Samuel, Director of M/s AV Infracon Pvt. Ltd., in connection with a large-scale investment fraud amounting to over ₹25 crore. He was arrested near his house at Banjara Hills on Wednesday. This comes after the company's Managing Director Gogula Lakshmi Vijaya Kumar was taken into custody in June and remanded to judicial custody. Police said that the two, along with some others, allegedly lured people into investing in their ventures, M/s AV Infracon Pvt. Ltd. and M/s AV Organo Farms Pvt. Ltd. through false promises under the guise of lucrative real estate returns. At least 150 people were defrauded of an estimated amount of ₹20-₹25 crore. Investigations revealed that the duo had floated a series of deceptive schemes starting from 2021, which included investment plans, buy-back arrangements, and pre-launch housing offers. These schemes promised high returns and were backed by forged legal documentation, including Agreements of Sale, Memoranda of Understanding, and Sale Deeds, intended to mislead depositors into believing their investments were secure. In one scheme, depositors were promised 50% returns on investments of ₹10 lakh after a year. In another, land parcels were registered in the investors' names with a buy-back assurance of 50% extra on the deposit. The third scheme involved offering two-bedroom flats in high-rise or semi-gated projects at significantly reduced rates, with the promise of handover within two years. However, according to Cyberabad police, the lands either did not exist or were not properly registered. The accused failed to return the promised funds or deliver on the properties. Ventures were floated across multiple locations in and around Hyderabad, including Morigi in Sangareddy district, Komshetpally in Vikarabad, Pembarthy in Janagon, Kondapur in Ghatkesar, and several areas in Keesara and Medchal-Malkajgiri districts. The funds collected from victims were allegedly diverted to other undisclosed investments by the accused. Investigations are on to trace the misappropriated money and refund the depositors. A case has been registered under various sections of the Bharatiya Nyaya Sanhita, 2023, and Section 5 of the Telangana Protection of Depositors of Financial Establishments Act 1999. Cyberabad Police have urged citizens to remain vigilant and to verify the legitimacy of investment offers, particularly those involving pre-launch and buy-back promises. Officials advised prospective investors to cross-check approvals and authenticity with relevant regulatory bodies such as GHMC, HMDA, RERA, and DTCP before entering into any financial agreements.
