City Limouzines head held in Delhi
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The Enforcement Directorate (ED) on Saturday arrested Sayed Masood, chairman of City Group, from New Delhi in connection with a fraud case. "We have arrested Sayed Masood from New Delhi and he will be brought to Mumbai and produced in a court," said an ED official.
Masood is accused of duping thousands of investors through his companies City Limouzines and City Realcom. The ED had registered a case against Masood under the Prevention of Money-Laundering Act (PMLA), and in April this year attached his properties.
Mumbai Police had earlier lodged a cheating and fraud case against him.
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