Current Affairs

Fixed Deposit Scamster bought three hotels in Goa

Showman Group owner Mohammad Fasih currently in custody of Mumbai Police’s Economic Offences Wing (EOW) for his alleged involvement in a multi-crore fixed deposits scam, has revealed that he invested part of the scam money in purchasing a hotel in Goa.

Fasih was arrested after EOW investigations revealed that the money siphoned from the South Indian Education Society (SIES) fixed deposits ended up in Showman Group’s bank accounts.

According to EOW sources, Fasih during interrogation revealed that one of the three hotels in Goa owned by Showman Hospitality was purchased from funds accumulated through the fixed deposits cash credit loan. The Showman Group owns three hotels in Goa -Morjim Bay, Our Shack and Sheesh Mahal lounge.

“Our job now is to find out which hotel was purchased using the scam money, and to establish the trail of funds so that we can initiate attachment of the property,” revealed sources from Crime Branch.

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