Economic Offence Wing (EOW) of the Ahmedabad police has registered an offence against Evergrow investor and IMAGE Tours Pvt Ltd’s Managing Director Hiren Jogani, CMD Ketan Solanki, Finance Manager Jigar Nimavat, who was all India head of the company, and a person named Deepak Shah for duping people of Rs 77,92,000 on pretext of giving them high returns on their investment in the company.
The EOW arrested Deepak Shah, a resident of Anand, and Jigar Nimavat, who lives at Marriott Sky Flat in Nikol, and secured their police remand till April 3.
Incidentally, Shah faces charges in several cheating cases, including one registered by the CBI after the Goa government had invested in his Solar Energy company DCS. Since Shah is already in jail, the EOW will arrest him on transfer warrant, said a source from the EOW. According to the complaint, several persons have invested in the Evergrow Investor and IAMEF Tours and Travels after they were lured by the accused, promising high interest rates.
Senior EOW officials said that the accused had opened an office at the Sakar Building near the old Reserve Bank on Ashram Road. “However, they did not give any such returns to the investors, and used the money for their personal use. We do not rule out the possibility of more investors being duped in the case as investigation is underway,” said a senior EOW official.