Moinuddin Saiyed and his brother Raja have been accused of scams worth nearly Rs200 crore.
The detection of crime branch (DCB), Ahmedabad, took custody of Moin alias Moinuddin Saiyed on Tuesday through a transfer warrant from Gandhinagar CID (crime). Sources said that Moin and his brother, Raja, have allegedly cheated people of at least Rs200 crore.
However, in the complaints lodged against the brothers with DCB, CID (Crime), and JP Road police station in Vadodara, among other police stations, they are accused of cheating people to the tune of over Rs15 crore. Raja Saiyed is also wanted in this case and but is currently believed to be in Dubai.
The brothers are sons of Nizamuddin Saiyed, an assistant sub-inspector at DCB, Ahmedabad. Nizamuddin Saiyed has been transferred to ‘K’ company at police headquarters.
Ashfaq Pathan, a resident of Raopura in Vadodara, had filed a police complaint against Moin and Raja Saiyed on February 16, 2012, with the DCB accusing him of cheating him to the tune of Rs1.80 crore.
Gandhinagar CID (crime) arrested Moinuddin Saiyed on April 1, 2012. Then three cases were registered against him – one by Arif Sheikh, a resident of Jamalpur; another by Iqbal Saiyed, a resident of Juhapura and the third by Farooq Solanki, a resident of Vadodara.
Moinuddin had allegedly lured Arif Sheikh by promising him 15% interest on Rs1 lakh. Ten other victims have registered complaints along with Arif claiming that they were cheated by Moin and Raja to the tune of Rs4 crore.
In total, complaints alleging cheating to the tune of Rs7 crore were registered in Vadodara. The complaints lodged by Iqbal Saiyed and Farooq Solanki rounded up the amount cheated by the brothers to Rs15 crore. Sources said that they had lured many others through Aliya Enterprise and KSP, the companies run by the brothers.
Arif Sheikh and Ashfaq Pathan have alleged that Moinuddin and Raja Saiyed were involved with anti-social elements and had threatened to kill them.
“They had been evading arrest. Raja Saiyed is in Dubai. Moin had gone to Dubai earlier. CID (crime) and DCB are investigating the cases against them but they were not arrested because they are the sons of a police officer,” alleged Arif Sheikh.
The sessions court recently rejected their bail. The metropolitan court had remanded them to seven days police custody but the sessions court reduced their remand to three days.
Ashfaq Pathan alleged that the brothers have money as they had been paying their customers.
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