MeraNews Network, Gandhinagar: A day after the CID Crime took over the investigation of the 260 crore ponzi scam involving businessman Vinay Shah, SP Haresh Dudhat from the Economic Offenses Prevention Branch said that a look-out notice will be issued against Shah and his wife Bhargavi.
“Three teams of the CID Crime had raided the residences, offices and other premises of the accused and we seized laptops mobile phones and gadgets, documents and jewellery and cash totalling to Rs 50 lakhs,” said Dudhat. Regarding the audio clip of an alleged phone-call between Shah and another person where Shah can be heard claiming that IPS officer JK Bhatt had accepted Rs 90 lakh from him, Dudhat said that the source of the audio is being ascertained and the call records of Shah and his associates are being looked into, but so far nobody has come forward with a complaint regarding the same.
Ahmedabad-based businessman Vinay Shah and his associates have been accused of cheating investors to the tune of Rs 260 crores by floating several Ponzi schemes and luring people with offers of doubling their money. Shah, through his company Archercare Digiad LLP, had promised his investors 15 to 20 percent returns on their money for just watching and clicking on advertisement links displayed on their websites. The firm had even promised referral bonus to investors who’d bring in more people on board this scheme.
Upon realizing the heat on him, Shah left behind a note where he accused IPS officer JK Bhatt and two local journalists of having taken money from him for helping him in his scam. Shah is believed to have escaped to foreign shores, though it is still unconfirmed.
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