As the Kamaxi Forex case drags on, the victims who have lost their investments have expressed their frustration on the part of the police machinery’s failure to initiate steps in earnest to recover their lost money.
Recently, the Proprietor of Kamaxi Forex was remanded to judicial custody by JMFC till June 2nd. Nilesh Raikar, who is the alleged in laundering money of over 400 persons from Goa was arrested on 22nd April by the Economic Offences Cell and has been in custody ever since.
“So far most of the victims are not happy with the way the whole issue has been handled and the Investigation team has not been able to get more details from the accused or the director’s mother and wife. Nilesh has disclosed only the properties and assets which are mortgaged by the banks. I strongly believe the he have more assets which the police are not been able to find out. Even he have lost money in trading what happened to the foreign currency he exchanged a few days before he absconded,” said Dixon Vaz.
Dixon felt that the given that the issue is under the legal process, they hope that the court will pass directions that the case is expedited on fast track basis with respect to recovering the money from the accused.
In this regard, a few of the victims have decided to file an intervening petition when the accused files bail, opposing the same and asking the court to monitor the investigation.
“The biggest issue we face is a lack of trust that the police is serious about this case.. We have been demanding that individual cases be filed and instead of grouping all the cases together and a team or officer be formed especially for recovery of funds. The investigating officer has to be replaced as they police are not working and exploring the right angles to recover the undisclosed properties and assets which is essential,” said Cruz Cardozo.
There are also concerns that the case will drag on in the courts and the accused will simply buy time to evade arrest and will use the time to hide his assets.
