The Home Department has ordered immediate attachment of movable properties of the Secured Investment Making Services India Private Limited (SIMS) and its allied organisations.
The Home Department has asked the Additional Director-General of Crime Investigation Department to attach the properties spread across various districts in the State.
SIMS had lured over 48,415 depositors with Ponzi and impracticable money circulation schemes and amassed about Rs. 337 crore within a short period and downed shutters in 2013.
In all, 16 persons were accused in the multi-crore fraud, which included the main promoters of the company — Kanamarlapudi Surendra Babu alias Surendra Gupta and Raghumadhri Tirumala Rao.
The scheme had come to light after Kumili Ramana, depositor and resident of Thatichetlapalem in the city, and three others filed a complaint against the firm in the Fourth Town Police Station on February 16, 2013.
As per the complaint, the company offered a return of Rs. 8,000 per lakh per month by way of interest and growth fund. Believing the same, they had deposited an amount of Rs. 65 lakh. But Surendra Babu had been postponing the repayment.
Finally, the company had downed its shutters. The police had booked 11 cases against the owners.
Later, Surendra Babu surrendered before the police and the case was transferred to the CID. Though the company operated from Visakhapatnam, it lured depositors from districts such as East and West Godavari, Guntur, and Prakasam.
The firm allegedly lured over 48,000 depositors and amassed Rs. 337 crore before downing shutters in 20013
