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Mumbai Crime: Three public servants start scam within City Group racket

<p>The multi-crore City Limousines and City Realcom scam took a new twist after three government servants -- a clerk and two peons of High Court-appointed government liquidator office -- were booked for trying to piggyback on the scam to start yet another racket</p>

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The multi-crore City Limousines and City Realcom scam took a new twist after three government servants -- a clerk and two peons of High Court-appointed government liquidator office -- were booked for trying to piggyback on the scam to start yet another racket. The accused allegedly made up bogus victims of the City Group scam and tried to clear compensation claims in their name. Twenty-six others were also booked in the case.

Flashback
In 2007 and 2009, the Economic Offences Wing registered two cases against M/s City Limousines (India) Ltd and M/s City Realcom India Ltd. The two City Group companies had allegedly duped over 70,000 people across the country by promising unrealistic returns on their investments. During the probe, the EOW arrested seven persons, including the firm's chairman, Sayyed Masood, and seized properties worth nearly R200 crore.

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