Jignesh Shah, Joseph Massey appear before EOW
Jignesh Shah, promoter of NSEL and Joseph Massey, MD & CEO of MCX-SX appeared before the Mumbai Police's Economic Offences Wing on Tuesday.
October 09, 2013 / 11:09 IST
NSEL promoter Jignesh Shah and the MD & CEO of MCX SX, Joseph Massey appeared before Mumbai Police’s Economic Offences Wing on Tuesday, reports CNBC-TV18’s Aastha Maheshwari.
The wing, which was probing the alleged Rs 5,600 crore NSEL scam, had asked the bourse's promoters, including Jignesh Shah, Joseph Massey, defaulting brokers, and senior officials last week to appear before them by Friday last week. While the other defaulting broker members had appeared before EOW last week, Jignesh Shah & Joseph Massey had sought time.Also read: E-Series case: HC against pro-rata settlement It was an informal meeting and no statement has been recorded. EOW officials informed that as they are in the process of scrutinizing the income tax (I-T) records, they will summon Shah and Massey once again for further questioning. During their 45 minute meet, they promised to support the investigation claiming that they were unaware of the absence of stocks in the warehouses. They also blamed Anjani Sinha for all the mis-happenings at the company along with creation of the fraud companies and directors. EOW had conducted raids at the residences and offices of the NSEL top brass, brokers and defaulters across the country on Sept 30.The police teams, raided as many as 193 locations on Monday, had so far covered 143 locations (44 office premises, 45 houses and 54 warehouses) and collected crucial evidence. About 65 voluminous files, 61 hard disks, six laptops, 25 pen drives, two CPUs and an iPad were among the evidence collected so far. An FIR was registered on Monday by the EOW against its promoters, directors and defaulters on the charges of cheating, forgery and breach of trust among others. The EOW froze 58 bank accounts, including the accounts of the crippled Exchange and the accused, while CBI has also started a probe into alleged duping of customers and irregularities by the exchange.NSEL, promoted by Shah-led Financial Technologies, has been facing problems in settling Rs 5,600 crore dues of 148 members/brokers representing 13,000 investor-clients, after it suspended trade on July 31 on government's direction. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
