Investigation expands throughout Karnataka; KPID Act invoked
Mysore/Mysuru: The Mysuru Metropolis Crime Department (CCB) has acquired greater than 200 complaints inside simply 4 days in connection with the multi-crore gold fraud allegedly dedicated by Soundar Raj alias Chinnathambi and his affiliate firms, SDJ Gold Firm, DGF Gold and Diamonds and Dhanaganapathi Finance.
On Might 16, the Metropolis Police had appealed to the general public to method the CCB workplace with related paperwork to help within the ongoing investigation into the massive-scale fraud.
Soundar Raj, proprietor of Dhana Ganapathi Golden and Diamond Agency (DGF), is accused of dishonest prospects by promising to buy gold ornaments at premium costs and supply loans at low rates of interest. Police mentioned he allegedly melted pledged ornaments with out paying prospects their due worth and misused the belongings for private achieve.
Chatting with Star of Mysore this morning, CCB Assistant Commissioner of Police (ACP) Mohammad Sharif Rawathar mentioned the designated Investigating Officer at CCB workplace has thus far acquired over 200 complaints.
“Since Might 16, now we have been flooded with complaints, not solely from Mysuru however from totally different components of the State. Contemplating the dimensions of monetary exploitation, instances are being booked beneath the stringent Karnataka Safety of Curiosity of Depositors in Monetary Institutions (KPID) Act,” he mentioned.
Accused in judicial custody
The CCB launched an intensive crackdown on the accused following public protests in entrance of the Metropolis Police Commissioner’s workplace. Primarily based on a grievance lodged by H. Mahantesh of Davangere, the Kuvempunagar Police registered an FIR in opposition to Soundar Raj. CCB officers arrested him on April 29.
The case has been registered at Kuvempunagar Police Station beneath varied sections of the Bharatiya Nyaya Sanhita (BNS), together with dishonest and felony breach of belief.
The accused is presently in judicial custody. ACP Rawathar mentioned that whereas the preliminary complaints surfaced in Mysuru, victims from throughout Karnataka are actually coming ahead.
“Given the large quantity of complaints and the monetary path concerned, the detailed investigation is more likely to take one other 4 to 5 months,” he added.
In the meantime, to warning the general public in opposition to additional fraud, the Metropolis Police Commissioner not too long ago launched a video advisory and consciousness posters on the official Fb web page of Mysuru Metropolis Police. The advisory lists the retailers operated by the accused and warns residents in opposition to getting into into any monetary or enterprise dealings with these institutions.
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