Complaints pour in against car rental firm
The number of complaints in the City Limouzine scam has swelled to over 40,000. The economic offences wing (EOW), which is investigating the case, says the the number of people coming forward is increasing every day.mumbai Updated: Dec 23, 2010 01:46 IST
The number of complaints in the City Limouzine scam has swelled to over 40,000. The economic offences wing (EOW), which is investigating the case, says the the number of people coming forward is increasing every day.
According to an investigator, a Class I civic officer approached the EOW on December 20 after he was told that those affected may get refund of their amount. The prime accused in the case, SM Masood, chairman of the group, has promised the court that he is willing to pay back the due amount.
“The civic official approached us as he believed that this would be true and if he doesn’t lodge his complaint then he may lose out on the money,” an officer said on condition of anonymity, as he is not authorised to speak to the media.
“We are taking every complaint and adding it to the FIR and we are getting fresh complaints frequently even now,” the officer said, adding, “We will file the second supplementary charge sheet in the case in a few days as we have gathered more evidence against the accused.”
Sanjay Saxena, additional commissioner of police, EOW, told Hindustan Times that the investigations were still going on in the case. “We have been feeding in all the complaints, it must have reached 40,000 by now,” he said.
The EOW had arrested Masood on February 4, 2010, from the outskirts of New Delhi. Masood had duped thousands of investors across the country of several crores of rupees by offering returns as high as 48% through several schemes. Two of the popular schemes were operated through City Limouzine and its sister concern City Realcom.
For instance, on an investment of Rs 97,000, the company offered depositors Rs 4,000 every month for five years. The amount collected by the company was to be used to buy Maruti Omnis, which were to be registered in the names of the investors.
The investors were to be paid the profit from the income generated by giving the vehicles on hire. At the end of the five-year period, the vehicles were to be returned to the investors.
However, after a couple of years, the cheques issued by the company started bouncing and the investors were not given their returns.
Masood is currently lodged in Jaipur jail. Five other accused, including his wife, have been arrested in the case.