India, June 18 -- The state home department has ordered the attachment of properties of 18 persons accused in a Rs.33.95-crore scam in Jaimuni Cooperative Patpedhi Limited, a Vasai-based credit society. Apartments, land parcels and commercial properties owned by the accused - including developers, businessmen and directors and office-bearers of the credit society - will be auctioned to recover the deposits of account holders in the credit society, as per the notification issued by the home department last week.

The notification was issued under sections 4(1) and 5(1) of the Maharashtra Protection of Interest of Depositors (MPID) Act, 1999, which authorise the government to recover the amount defrauded from depositors by selling propertie...