Nagpur Police Economic Offences Wing has raided the offices and residence of the dubious Shreesurya Investments on Saturday, following the complaint lodged by an investor. The officials conducted massive search operation which lasted for the entire day. The Chairman of Shreesurya Sameer Joshi was also said to have been interrogated. The officials were believed to have sought important information while grilling Joshi during the swoop.
The offices that were raided include Shreesurya Group’s headquarter at Telecom Nagar and Chhatrapati Nagar. During the raid the police seized several incriminating documents, computers, hard discs and other crucial material related to the massive scam for inspection and investigation purposes. However, the information regarding the presence of chairman of the Group Sameer Joshi during the raid could not be ascertained. Later Joshi’s residence was also reportedly searched.
The DCP Kolhe, under the guidance of Commissioner of Police K K Pathak and Joint Commissioner of Police Sanjay Saxena, directed the Police Inspector Bhoye to raid the Shreesurya Group HQ in Telecom Nagar.
Unconfirmed reports also say that Joshi and his wife were picked up from his residence. Meanwhile rumors of his arrest also became the talk among his investors.
An investor Amit Morey (37), a resident of Somalwada who had reportedly invested Rs 5,00,000 had lodged a complaint against Shreesurya with Economic Cell of Nagpur Police. The complaint by Morey and other hundreds of complaints forced the Economic Cell of Nagpur Police to go blitzkrieg and the raid was the outcome of the same.
Another investor Yogesh Bhagwan Karade of Chhatrapati Nagar claimed that his family had an investment to the tune of Rs 1.5 crore yet unrecovered. Karade said that a group of 5-6 officials raided Shreesurya Tower at Chhatrapati Nagar square.
According to the comprehensive reports, the Shreesurya Group was giving membership for investors. After the membership, the Group was advising the investors to pour in their investments as Fixed Deposits by dangling the “40 per cent” interest (doubling the amount in two and a half years). The Group paid 4 per cent interest to investors till February 2013. However, the Shreesurya Group clandestinely invested the investors’ money into logistics, tour and travel, tourism, daily need items, financial services, health services, cooking oil, Information and Technology, infrastructure, cold drinks, bakery products, supermarts, restaurants, clothing, media, spa-salon, fitness gyms etc.
According to reports, the Shreesurya Group had promised 40 per cent interest on the investments. The “40 per cent” words brought hundreds of investors to the company only to be deceived. Now, the situation has come to such a pass that leave alone “40 per cent” interest, even the investment money could be returned to the investors is a million dollar, no, a crore question!.
In the meantime, Joshi had already disposed of two properties at Rs 10 crore each and soon going to dispose of properties in Chhatrapati Nagar. The cunning reason behind disposing of properties is simple: If the police initiates any action against him, no properties could be seized. Joshi wants the cases should go to court. The longer the period the court takes in deciding the cases the longer the benefits for him. The investors could go dead tired over court proceedings, and, even surrender to their fates and forget their money.
A source, who resides in Shankar Nagar and has requested anonymity, informed that Joshi has already disposed of two properties at Rs 10 crore each and soon going to dispose of properties in Chhatrapati Nagar. The cunning reason behind disposing of properties is simple: If the police initiates any action against him, no properties could be seized. Joshi wants the cases should go to courts. The longer the period the court takes in deciding the cases the longer the benefits for him. The investors could go dead tired over court proceedings, and, even surrender to their fates and forget their money. An investor from Amravati invested his lifelong money to the tune of Rs 20 lakh in the Shreesurya Group in Nagpur. One shudders to think his sufferings.