Raikar’s custody extended in multi-crore Kamaxi forex investment fraud

Accused Nilesh Raikar arrested in an alleged multi-crore investment fraud, has given an extended judicial custody till June 2. He was arrested on April 22 and his mother’s Rekha, one of the directors of Kamakshi Forex with his wife Neelima were arrested on May 2. Both were later released on conditional bail on May10 keeping Nilesh Raikar behind in the custody. Here is the complete report.

[su_expand more_text=”READ MORE” less_text=” ” height=”0″ hide_less=”yes” link_style=”button” link_align=”center”] The alleged accused of Kamaxi forex who cheated his customers is now in an extended judicial custody. The Economic Offences Cell (EOC) of the Goa police had passed an application before a court in Margao requesting for attachment of around 18 properties belonging to Nilesh.  They had also asked for issuing directions to the concerned sub-registrars not to sell or purchase the properties in question. All these properties belonged to Nilesh are said to be mortgaged to banks against the loan obtained by him. The order in this regards is likely to be pronounced on May 24.

Nilesh Raiker and the directors of Kamakshi Forex were charged by EOC, on April 15 and had registered an offense under criminal breach of trust, criminal conspiracy and cheating for swindling crores of rupees of several depositors.

As informed by the police so far around 559 complaints have been lodged. It may be recalled as said by the police the alleged accused had offered an interest rate of around 24 percent and had issued post-dated cheques to the investors depending on the maturity of the invested amount.

According to police, Reserve Bank of India has given permission to Kamakshi Forex to run foreign currency exchange but not for collecting and depositing money.


Source: NT


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