City Limouzine chief has property worth Rs 200 cr

Investigations carried out by the Mumbai Police’s Economic Offences Wing (EOW) have revealed that Sayed Masood,chairman of the City Limouzine Group that is accused of having cheated thousands of investors out of money running into several crores of rupees,allegedly owns around 30 properties worth an estimated Rs 200 crore.

“Masood has around 30 properties valued at about Rs 200 crores. Besides,he has 32 bank accounts in his name with around Rs 7 core deposited in them,” said Joint Commissioner of Police (Crime) Rakesh Maria. “We have opened a special cell that complainants can approach. So far,around 25,000 complaints have been received,” said Maria.

The EOW on February 4 arrested Masood and his close associate Seema Razzaki,a director of the group,from Delhi. According to the police,there are two cases against the accused registered with the EOW,and nine others registered in different local police stations.

EOW had earlier arrested two directors of the company,Umar and Geeta Razzaki,along with an accountant in November last year and had filed a chargesheet two weeks ago.