After Kamaruddin, Muslim League's KM Shaji summoned by ED in ponzi scam

Months after Muslim League MLA MC Kamaruddin courted controversy surrounding his gold business, another Muslim League MLA's name has emerged in a jewellery Ponzi scam. KM Shaji, Azhikode MLA from the party is being questioned by the Enforcement Directorate (ED) over his alleged 'disproportionate assets', in addition to a gold jewellery Ponzi scheme. 

As per ED sources, his assets are not matching his earnings. The ED has summoned the MLA with all his financial documents. KM Shaji's wife has also been called in for questioning. The MLA's multiple properties including a palatial home are seemingly disproportionate to what he earns, sources said. 

Read: FIR Against Muslim League MLA Kamaruddin Over Duping Investors In His Gold Business

Read: Arnab Goswami Continues To Be In Jail, Bombay High Court Rejects Interim Bail

Kamaruddin sent to 2-day police custody

Meanwhile, the Muslim League's Kamaruddin has been sent to two days of police custody. The investors of his gold jewellery business had pressed charges against him in August for not passing on the monthly investment profit to them. One of the complainants, Akkarakaran Abdul Shukkur, revealed that he had invested his entire savings in the MLA's gold jewellery business but had not received any earnings from it for the past year. 

"I signed an agreement saying I will get Rs 30,000 per month for my investment. Initially, I used to get returns. For the past year, they have not given any money. They are evading returns," said Shukkur. 

The special investigation team, which was constituted to probe over 115 cases registered against Kamaruddin, arrested him at the SP office where he was being questioned on Monday, police sources said. The FIR copy accessed by Republic TV has been lodged under IPC section 420 and Section 34 against him at the Chandera Police station. Responding to the case registered, the MLA has alleged that all charges against him are 'politically motivated.' 

Read: Kerala Gold Smuggling: Youth Congress Workers Demanding CM's Resignation Cane-charged

Read: DRI Recovers 504 Foreign Gold Bars From 8 Passengers At New Delhi Railway Station

(With Agency Inputs)