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Economic Offences Wing of Mumbai police investigation Rs 5,574 crore NSEL scam is shifting gear towards investigating brokers of the exchange.
EOW official today told media persons that from tomorrow notices will be sent to the brokers and all from Saturday their interrogation will begin.
There are 24 brokers whose share was higher in NSEL volumes and they will be called first. EOW is forming a special investigation team to investigate and interrogate the brokers.
EOW official today told media persons that from tomorrow notices will be sent to the brokers and all from Saturday their interrogation will begin.
There are 24 brokers whose share was higher in NSEL volumes and they will be called first. EOW is forming a special investigation team to investigate and interrogate the brokers.
Police action follows complaint filed by the NSEL Investors Action Group with the EOW. The group was formed by some of the members of the NSEL investors’ forum as the forum consisted investors as well as brokers. The group had also complained that these brokers were having knowledge that there was no stock with the exchange and the exchange was running like an NBFC.
Police took serious cognisance of the complaint and decided to probe these brokers. Police has already obtained data from the NSEL server about the transactions of these brokers and found several issues raising questions about role which was not only matching deals and found their involvement in the scam. Police official said that, “the brokers were complicit in the NSEL scam.”
Meanwhile police said that management and directors of the Financial Technologies will also be called for interrogation in coming weeks. Even Jignesh Shah whose statement was recorded yesterday would be called again.
Police official said that assets frozen is valuing around 80 per cent of the NSEL scam amount and now focus will be on freezing/attaching liquid assets of the borrowers which is in progress.
