CoD files charge sheet against 'blade' chit co accused

Bangalore, Aug 13 (UNI) Corps of Detectives (CoD) today filed chargesheet against 20 people, including main accused Srinivas Sastry of the 'blade' chit fund firm Vinivi Inc for cheating 20,000 investors from south India to othe tune of Rs 200 crore.

Director General of Police R Srikumar told reporters today police had booked 14 cases in various cities in Karnataka and arrested Sastry and Lokesh, while 17 others were on bail.

The State Government had appointed a two-member team to dispose movable and immovable assets belonging to the arrested and had so far recovered Rs 10.94 crore.

The government had ordered the disposal under the Karnataka Protection of Depositors in Financial Establishments Act of 2004.

During the investigation, police recovered about Rs four crore in cash and Rs 1.18 crore worth cheques and dds, Rs 81 lakh worth gold (817 gram) and Rs 5.53 lakh worth silver (25.43 Kg).

Sixteen cars, about 25 acres of land in Hoskote worth Rs 1.50 crore, 49 sites in Yelahanka worth Rs 3.21 crore and two houses in Banashankari and Avalahalli worth Rs 60 lakh were recovered by CoD, he said.

The company had transacted about Rs 1,477 crore in share business with India Bulls, Ruksha Capital Shares and Sharekhan. A sum of Rs 1.45 crore was due from India Bulls and the remaining amount was 'lost' in share transactions, the DGP added.

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