Prakasam police identify properties of NMart racketeer after Gopal Singh Shekhawat and his wife gone underground

Prakasam district police under the dynamic guidance of superintendent of police Dr Raghuram Reddy identified the properties of the NMart money circulation scheme racketeer Gopal Singh Shekhawat in Surat and other areas.The SP said that some of the properties of the accused who has been absconding after the Borivali magistrate, Mumbai, issued non-bailable warrant for his arrest were identified and efforts are on to confiscate the properties. He said that the police have identified a helicopter bought by the accused Gopal Singh Shekhawat with the ill-gotten money which was parked in Mumbai and seized it. It may be recalled that in the name of retail business, the accused Gopal Singh Shekhawat indulged in money circulation scheme and amassed about Rs. 1400 crore in a short span. The police had already seized several cars and two-wheelers owned by him. According to police, the cases were filed against the accused Gopal Singh Shekhawat and his wife and others under Section 420 of IPC, Sections 3,4,5 of Prize Chits & Money Circulation Schemes (Banning) Act, 1978 and the AP Protection of Depositors Act. The modus operandi of the racket is simple. By paying Rs. 5500 one has to become a member and he would be given 48 coupons each worth Rs. 220 to be exchanged with products in the next 48 months in the retail shop owned by the accused. More, the members would be paid Rs. 200 per each enrollment of new member into the scheme. In addition to the incentive of Rs. 200, the members were promised attractive prizes like motorcycles, cars, computers, foreign trips if they enrolled more than 50 to 1000 members into the scheme. Corporate Frauds Watch, a Vijayawada-based voluntary organisation lodged a complaint with the police station at Kandukuru, Prakasam district. The Kandukuru circle inspector Akkeswara Rao had taken up the investigation and apprehended the accused and his wife. After obtaining the bail from the Mumbai court, the accused was absconding since then. CI Akkeswara Rao, said that a helicopter belonging to accused was seized at Mumbai. The accused and his wife were at large and efforts are on to identify his whereabouts, he said. Meanwhile, the reports from various States said that the irate members attacked the NMart retail stores and took away whatever they could from them. The NMart has nearly 150 retail outlets through out the country. Almost all the shops are now closed. Some people, who refused to be identified, lamented that they had paid huge amounts as membership in the hope that it would fetch huge returns in future. The members have to pay Rs. 5500 per membership, but these people out of greed for huge returns have taken multiple memberships.