IMPHAL October 21: The state police have arrested 13 persons including a woman in connection with Jainex International Trade fraud case and have managed to recover Rs. 30.95 lakhs from two persons.
The fraudulent network investor firm allegedly duped investors of close to Rs 40 crore.
The alleged kingpin of the network in the state has been identified as Hiudrom Nandakumar, 50, son of late Ibopisak of Khagempalli Pankha Hiudrom Leikai and he was the first person to be formally arrested in the scam on the October 18 following an FIR lodged by an investor.
Following Nandakumar’s disclosure, police have recovered 22.95 lacs from his residence found stored in a cement bag and have arrested another 12 persons.
They are identified as (1) Rk.Sangeeta (40) w/o Rk.Rajen of Singjamei Leisangthem Leikai,(2) Khuraijam Sheityajit Singh (38) s/o Raghumani of Singjamei Chingamakha Oinam Leikai ,(3)Nongthombam Brojen (43) s/o late Tharojao of Keisampat Thiyam Leikai(4) Yambem Milan (37)s/o Y.Pishak of Uripok Khoisnam Leikai (5) Shijagurumayum Ningthem (36) s/o late Gopendro of Uripok Khwaiba Mapu (6) Thokchom Dilip (35) s/o Mani of Singjamei Chingamakha Irom Leirak (7)Hidangmayum Devkishore (38) s/o Pishum Ningom Leirak (8) Rk.Devenkumar (43) s/o late Manisana of Ningthoukhong Radha Mandop Leikai (9) Hijam Raju (38) s/o late Lamphel of Singjamei Bamon Leikai (10) Laishram Amar (35) s/o Mani of Kwakeithel Tiddim Ground (11) Khangembam Kuleshor (55) s/o late Nillachandra of Singjamei Kongba Road (12) Yumnam Bhumeshor (27) s/o Shyamsunder of Lamding Mamang Leirak at present Yaiskul.Police recovered another 8 lacs from Khuraijam Sheityajit.
All the arrested persons have been produced before the judicial magistrate first class, Imphal East and have been remanded in police custody for 8 days.
They will be produced before the magistrate again on the October 27.
They have been chargesheeted under FIR 214 (10)2010 SMPS under section 420,423/120 of the Indian Penal Code and other minor Acts under section 4/5/PC (price chit) and MCS (money circulation scheme) Banning Act 1978.
The charges amount to cheating, fraud, conspiracy etc and is punishable by 7 years in jail if convicted.
Police sources stated that the case is in an inquiry stage and further arrests have yet to be made according to the complaints of the downlines(investors).
It may be mentioned that Jainex Internatoinal Trade or JIT Network duped thousands of investors of the state as the website hosted by the alleged company offering financial services became unavailable on October 15.
According to reports, some 3000 people of the state have invested money on JIT network ranging from Rs 50,000 upto 10 lacs individually from September 2010 onwards and more than Rs. 40 crores are speculated to have been deposited by the investors to the JIT network account.