• March 13, 2012
Paazee scam: CBI raids IG houses
CBI searched residences of Pramod Kumar, inspector general (armed police), at SAF village in Chennai and his native Bihar Monday in connection with the Rs 500-crore Tirupur Paazee scam and reportedly seized incriminating documents.
Paazee offered astronomical returns and reportedly collected more than Rs 500 crore from depositors in Coimbatore and Tirupur.
It not only failed to honour the promise but also gobbled up the investment. More than 10,000 investors approached police.
Pramod Kumar, west zone ex-IG, was in the middle of the scam that broke out two years ago. Police allegedly took crores to hush up the scam.
A deputy superintendent of police and inspector Mohan Raj were arrested. The inspector allegedly extorted nearly Rs 3 crore from Paazee MD Kamalavalli for not taking action. He claimed he shared the money with seniors.
28 Mar 2012
Mar 23, 2012
Fearing arrest, IG seeks bail in 1,000-crore Paazee finance scam
CHENNAI: Pramod Kumar, inspector-general of police and senior IPS officer of Tamil Nadu cadre, has moved the Madras high court seekinganticipatory bail, apprehending arrest in the 1,000-crore Paazee finance scam. He is IG, armed police, here at present.
Justice M M Sundresh, before whom the matter came up for admission on Thursday, adjourned the case to March 27 for further hearing.
The Paazee Forex scam unfolded in the textile town of Tirupur in 2009. Three promoters - Kathiravan, K Mohanraj and Kamalavalli - had allegedly duped thousands of depositors of several hundred crores which were mobilized on the promise of huge interest rate. Pramod Kumar, who hails from Bihar and belongs to the 1989 batch, was inspector-general of west zone at that time.
After being transferred to the CB-CID in March 2010, the probe was later entrusted with the CBI by the high court on April 19, 2011. On March 12, 2012 Pramod Kumar's houses at Chennai as well as Bhagalpur in Bihar were searched by the central agency. Pramod Kumar also told the court that on March 13, 2012, he was interrogated by the CBI for seven years and that he had been intimated that he should attend further inquiry as and when called in future.
In his present petition, the IPS officer said that he was instrumental in transferring the case relating to the kidnap of Kamalavalli by some policemen to the CB-CID for impartial investigation.
Noting that she had enacted a drama to escape from culpability, he said he never handled the case in person, as it was the responsibility of district crime branch officials upto the rank of a deputy superintendent of police.
Pramod Kumar, pointing out that the two searches at his residences did not yield any evidence to link him to the scam, said even the Paazee promoters had not named him in their statements to the investigating officials as well as to the court.
Noting that a police officer creates a host of enemies and persons having grievances against him owing to the nature of his duty, the IPS officer said he could not be arrested merely on the statements of his subordinate officers, who are accused in the case.
23 Mar 2012
IG seeks anticipatory bail in Pazee case
CHENNAI: Pramod Kumar (47) of SAF Games Village in Koyambedu, who faces charges for offences under various sections of the IPC and the TN Prohibition of Harassment to Women Act while working as the IGP in West Zone Coimbatore, has moved the Madras HC seeking anticipatory bail.
The charge against Pramod was that he received huge amounts from Paazee Forex Services in Tirupur, which swindled the deposits to the tune of several hundred crores from the investors, to protect its directors. His houses in Chennai and Bhagalpur in Bihar were searched by the CBI on March 12. A case had also been registered against him for offences under the Prevention of Corruption Act.Pramod contended that he did not have any link with the company or its directors. The firm had never stated that he demanded money or he was paid. No incriminating material was recovered in the searches at his houses in Chennai and Bihar. There was no allegation against him either from depositors or the accused company, Pramod added.
28 Mar 2012
CBI charges IGP with abusing official position
CHENNAI: CBI today charged a police officer with abusing his official position when he was IG Police of West Zone, Coimbatore, and making his subordinates and accomplices extort Rs 2.85 crore, deposited by the public, from the Paazee Group of Companies.
The agency said investigation had revealed that Pramod Kumar, Inspector General of Police (Armed Police), had an active role in "orchestrating the extortion through his subordinate police officials and his accomplices."But for his involvement, the extortion of Rs 2.85 crore would not have been possible, CBI said in a counter filed in the Madras High Court in response to a plea for anticipatory bail by the officer who apprehended arrest for allegedly accepting graft from the investment firm.Opposing grant of bail, the CBI rejected the officer's claim that there was "no iota of any allegation or whisper" against him from the company or the depositors.The agency submitted that the investigation had revealed that the Directors of the Company were not only under obligation to repay the depositors but also under pressure to pay bribes to police officers during the relevant period.Stating that the investigation was at a crucial stage, the CBI said the main case of cheating the depositors was under active investigation.The probe had revealed that the officer had "prevailed upon his subordinate officers and junior officers in postings and transfers to meet the demand of bribe of Rs 10 crore from M/s Paazee Group of Companies on the assurance that they need not pay to the depositors." He needed to be interrogated further, CBI said and prayed for dismissal of anticipatory bail plea.Pramod Kumar was IGP, West Zone, between 2008 and 2010 during which time Tirupur district was under his jurisdiction.In his plea, the officer had submitted that neither the main persons involved in the case nor the directors of the firm had said that he had demanded any money or was given any money by them, when he was serving as IGP West Zone or to anyone on his behalf. This would go to show that he had no links with the directors, he said.
March 28, 2012
Paazee forex scam: CBI opposes top cop’s bail plea – Times of India
IBNLive.com Paazee forex scam : CBI opposes top cop's bail plea Times of India CHENNAI: The CBI has told the Madras high court that it needed to arrest inspector-general of police and senior IPS officer S Pramod Kumar in the Rs 1000 crore Paazee Forex scam in Tirupur. Pramod Kumar, who was inspector-general of police (west zone) … Need to grill top cop for leads inPazee scam
Posted by PAAZEE REAL NEWS at 12:12:00 pm