One more complaint in Ponzi scam

Yet another complaint of cheating was filed against Ponzi kingpin Qutubuddin alias Raja on Monday. The complaint was filed by Bakarali Bukhari at Vatva police station. Besides Raja, the cops have also registered a cheating complaint against Zulfikar Bukhari alias Zulu.

Investigation revealed that the two accused are involved in cheating of Rs5.5 lakh. According to case details, Raja and Zulfikar convinced Bakarali to invest in the former’s company, Alia Enterprise, and lured him with returns at an interest rate of 15%. Bakarali and his family members invested in the company in November 2010. They got the returns for two months, but two months later, in January 2011, the company closed down.

Raja is the son of retired assistant sub-inspector Nizamuddin Saiyed. More such complaints are registered against him in Ahmedabad, Surat and Vadodara. There are complaints registered against him in the CID crime as well.