A Central Bureau of Investigation (CBI) team, investigating the running of multi-crore ‘Dabba Trading’ scam at Indore by Amit Soni and Anurag Soni, searched their residence at Resham Gali and their offices on YN Road, at Nalia Bakhal and their shop at Chota Sarafa on Wednesday.
This is the CBI’s first major action after they took over the case from the CID (Crime Investigation Department), Madhya Pradesh on March 20, 2014.
According to information, the CBI team entered the shop around 9.30am and was closeted inside till filing of the report.
Sources said the CBI team was armed with metal detectors and also brought in drill machines, hammers and chisel, leading to speculation that they were searching for a hidden locker filled with gold and documents.
At Nalia Bakhal, where the Soni brothers had a rented room, the CBI officials found over two dozen documents of mortgaged land and jewellery. It is believed that these are properties of people who lost money in the unauthorised commodities exchange and had kept the documents as collateral.
The officials did not find any gold leading them to suspect that it might have been hidden in the shop at Chota Sarafa.
The team also visited the house of one of the Soni brothers’ relatives, Abhijeet Soni, on YN Road, and questioned him for several hours.
An official CBI spokesperson said the team had recovered a large number of incriminating documents during the course of the raid which were being collated and verified.
The CBI had registered a case against the Soni brothers and others U/s 420 of IPC and 66-A, 66-D of IT Act, 2008 relating to alleged operation of unauthorised commodity exchange at Indore, on the request of Madhya Pradesh government.
The case had been registered in October 2013 by cyber cell of state police and later it was forwarded to the Crime Investigation Department (CID).
According to officials, the accused had created a parallel commodity exchange of the Multi Commodity Exchange (MCX) and the National Commodities and Derivatives Exchange (NCDEX), using a mobile application software, ‘Metatrader 5’, obtained illegally.
They lured investors by promising high returns and falsely claiming the platform was linked with MCX and NCDEX. They always were on the hunt for innocent or aged investors, with less of liquidity and more of properties, so that in case of a 'default', they could take possession of their property.
The software had been purchased for Rs. 75 lakh from Dubai. The accused rigged the price in their exchange due to which the investors invariably lost their money.
The kingpin and prime accused, Amit Soni, had committed a similar crime in Pali town of Rajasthan also.
The case so far
In October 2013, the cyber cell of state police registered a case against Amit Soni and Anurag Soni over alleged operation of unauthorised commodity exchange at Indore.
The case was forwarded to the CID which was later taken over by the CBI on the request of state government.
The Soni brothers had allegedly created a parallel commodity exchange of Multi-Commodity Exchange (MCX) and National Commodities and Derivatives Exchange (NCDEX), using a mobile application software, ‘Metatrader 5’.
They allegedly lured investors by promising high returns and falsely claiming the platform was linked with MCX and NCDEX.
The software had been purchased for `75 lakh from Dubai. The accused allegedly rigged the price in their exchange due to which the investors invariably lost their money.
The kingpin, Amit Soni, had committed a similar crime in Pali town of Rajasthan also.