Former Punjab and Maharashtra Cooperative (PMC) Bank Managing Director (MD) Joy Thomas converted to Islam and assumed the name Junaid Khan in 2012, following which he brought 10 properties in Pune allegedly as part of Rs 4,355 crore scam, India Today has reported.
After converting to Islam Thomas married his assistant while he was still wedded to his first wife.
Following this, since 2012 he jointly purchased these 10 properties which included 9 flats and 1 shop were purchased in various parts of Pune, under the name of Junaid Khan.
He as a result is accused of holding these properties under his new identity and that of his second wife.
This property buying spree coincided with Housing Development and Infrastructure Ltd (HDIL) promoters Rakesh and Sarang Wadhawan stopped repaying their existing loans and borrowed additional funds.
“If we are able to prove those bought from the proceeds of crime then we can initiate proceedings and attach these properties”, an official part of the investigation was quoted as saying.
The combined value of these properties is said to be Rs 4 to 5 crore. Thomas’ first wife filed divorce against him six months ago and the proceedings in that matter are on. He was arrested in connection with this matter on 4 October.