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Ponzi kingpin Zahir Rana files for bail


Ponzi kingpin Zahir Rana has filed for bail before the Ahmedabad Sessions Court in a cheating case lodged with Ellisbridge Police Station in 2014. Earlier, the same court had rejected the bail application of the accused which was filed before the charge sheet was filed in the offence.

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At that time while rejecting the bail of the accused court observed that Zahir Rana is a habitual offender and three similar kinds of cases are registered against him with Navrangpura Police Station and CID Crime Gandhinagar.

Cases against Zahir Rana

Zahir Rana was arrested by the state police and is accused of duping Paldi-based industrialist Bhimsinh Parmar in the year 2011-12. According to the complaint filed by Parmar, Rana promised to give him three houses for Rs 24 lakh in Narol in 2011. Soon after he was arrested by city police in an alleged ponzi scam and the metropolitan court had issued a non-bailable warrant against him in 2019.

Parmar said after the arrest of Zahir Rana, he researched the scheme under which he was promised the house and realized that no such apartment existed as claimed by Rana. Rana is also involved in several other Ponzi schemes in Gujarat. He was arrested by state CID crime.


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