PANAJI
Judicial Magistrate First Class, Margao on Tuesday issued letters to the District Magistrate of both North and South Goa and also to the sub-registrars of Panaji, Margao and Mapusa directing them not to allow purchase or sale of any of the 16 properties belonging to Nilesh Raikar, the prime accused in the ongoing Kamakshi Forex case.
The Economic Offence Cell of Goa Police had moved an application to JMFC Margao asking the court not to allow purchase or sale of all the 17 properties owned by Raikar. However, the court did not consider one asset as it was an ancestral property.
According to police, Raikar owns 4 flats and 5 shops in Margao, two plots (land around 1,000 sq mt) in Betalbatim, one shop in Panaji, one shop and one flat in Mapusa as well as in Calangute.
These properties were mortgaged by him in order to secure loans to repay his investors.
Owner of Kamakshi Forex, Raikar (43) has been accused of duping around 445 people by floating illegal Fixed Deposit (FD) schemes and promising them total returns of approximately Rs 29 crore so far.
This amount, however, is the maturity amount assured to the investors and the police have yet to ascertain the principal amount.
In addition to this, it has also been learnt that investors had demanded for registration of individual complaints. However, upon seeking legal opinion, EOC has ruled this out.
On April 15, the EOC had registered an offence of criminal breach of trust, criminal conspiracy and cheating against Nilesh Raikar and directors of Kamakshi Forex.
Raikar was arrested after he surrendered in mid-April. His wife and mother, who were the sleeping partners in the company, were also placed under arrest in the first week of May.
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Nilesh Raikar owns a total of 17 properties - 4 flats and 5 shops in Margao, two plots (land around 1,000 sq mt) in Betalbatim, one shop in Panaji, one shop and one flat in Mapusa as well as in Calangute. But the court did not consider one asset as it was an ancestral property.
