‘Absconding’ i-Core boss held at last
Dwaipayan Ghosh, TNN
| Apr 17, 2015, 03.12AM IST
KOLKATA: The CID on Thursday arrested Anukul Maiti, chairman and managing director of the alleged Ponzi firm i-Core group, who was “absconding” since Saradha went bust two years ago.
Maiti, 52, was nabbed from Lords Bakery crossing on Prince Anwar Shah Road near South City mall, said CID. He is accused in a Rs 15 lakh cheating case registered on June 10 last year and also faces charges under Prize Chit and Money Circulation Banning Act. A court remanded him in 11 days’ police custody. According to CID sources, i-Core group has mopped up over Rs 3,000 crore from the market since 2007. “Maiti used to raise money through different schemes, like monthly investment, collective investment, recurring fixed deposits and debentures,” said an investigating officer. Several influential men — including politicians from the Trinamool and Left regimes — have been linked to this group, say sources.
Maiti’s arrest has stunned the 17,000-odd i-Core agents. They demand to known from him why he allegedly went into hiding. The Serious Frauds Investigation Office is already probing 11 entities of this group along with Saradha, Rose Valley and Sunshine India Land Developers firms.
Few knew that Maiti led a colourful life, say sources in the agency. In 2010, when Mercedes launched its SUVs in India, he was the first person in the country to buy it. Maiti chose an iridium silver Mercedes GL350 CDI, shelling out a staggering Rs 72.66 lakh for it. Outwardly, however, he always preferred to lead a low-key life.
Maiti owns 15 ROC registered companies and four non-registered companies and has 12 directors working for him but had humble beginnings. He started his career selling FMCG and financial products. He was an agent of a former NBFC company. It was only in 2007 that he started i-Core with financial support from his wife, family and friends. His rise was meteoric.
Between 2007 and 2012, Maiti expanded into iron and steel, cement, housing finance, apparel, jewellery, retail, mobiles, paint and even toothpaste and toothbrush manufacturing. By 2012, he had roped in Bollywood and sports celebrities to endorse his brands. He was also reportedly the vice-president of a top football club from 2008 and 2011.
In October 2010, Maiti announced that i-Core would make a public offer of equity to raise Rs 500 crore. This was after the great crash of 2009 and the market for IPOs was effectively dead. Unsurprisingly, i-Core’s offer could not hit the market. Like most money raising companies, i-Core wanted to venture beyond Bengal: there were plans for cement grinding units in Tripura and Odisha. CID sources say the group has strong presence even in Assam and was close to the ruling regimes in each of these states.
CID arrests I-Core boss in Kolkata
India Blooms News Service
Distributed by Contify.com
16 April 2015
India Blooms News Service
Kolkata, Apr 16 (IBNS): West Bengal Criminal Investigation Department (CID) on Thursday morning arrested the chief managing director (CMD) of I-Core group Anukul Maity from Lords Crossing area in south Kolkata. A complaint of almost 10 lakh rupees cheating against Anukul Maity and I-Core group was lodged on Jun 10, 2014 at Belgharia Police Station in Barrackpore, WB. CID has charged Anukul Maity under cheating, fraud and breach of trust cases. I-Core CMD was produced later to the Barrackpore court on Thursday and the judge sent him to the CID custody for 11 days. Anukul Maity and his wife Kanika Maity founded I-Core group in 2007 and like Saradha, Rose Valley, MPS etc, I-Core group also collected a huge number of deposits from the market. (Reporting by Deepayan Sinha)