Complaint to ED Prosecutor’s Office at ₹ 2467 Dnanganradh Credit Credit Company “Error”

Mumbai: The Law enforcement Directorate (ED) filed a complaint from the prosecution (PC) to the Special Court (PMLA), Mumbai, on March 6, in connection with the case of fraud with the Multi -Cooperative Cooperative Society DNYANRADHA (DMCSL). The complaint calls 24 defendants, including Suresh Kute and DMCSL, for allegedly suppressed investors through fraudulent deposits that promise percentage of 12% to 14%. However, when deposits are ripe, investors either did not receive payments, or only partially returned, which leads to significant financial losses.

On Tuesday, the court assumed an awareness of the charge submitted by the Central Agency and initiated a lawsuit against the accused.

The ED investigation under the money laundering (PMLA), in 2002, showed that Suresh Kuta and his partners lured more than 4 investors to hand over money to DMCSL, promising high return. However, instead of fulfilling these promises, investors were deceived because the funds were lost and incorrectly used.

The ED case is based on several traffic registers registered with various police stations in the Maharashtra in accordance with the sections of the Indian Criminal Code and the Law on Protection of Interesting Investors (MPID) regarding the expected fraud committed with investors Kuta and others through DMCSL.

According to the agency, DMCSL managed and controlled Suresh Dniangao Kute, Yashwant against Kularka and others. Kute was arrested on January 7 this year and is currently under judicial care.

The investigation of the Central Agency reported that the DMCSL funds were stolen by the management of the Company, in which Kuta and others seized a criminal conspiracy for illegal and fraud, distracting 2467 rubles in the form of a loan by various Kute companies, and groups of companies using their own kite and his family.

After payment of these fraudulent loans, they canceled the funds through several accounts of the entities of the Kute group or directly in the form of cash. The funds received from the company were additionally used for their own personal benefits, such as investments in new enterprises, the acquisition of real estate and personal expenses, according to the ED.

Last year, the agency conducted several search operations and seized moving assets to the tune of 11 rubles in connection with this. The total cost of withdrawal or freezing and investing in this case by the date is 1433.48 crown.