1 week Ago By Gitesh Shelke
Pune: An investigation has been initiated into an investment fraud , wherein a multi-services financial firm operating out of Ambegaon Pathar allegedly cheated over 121 investors of Rs9 crore by promising handsome returns between April 2023 and Aug. A small-scale industrial unit owner aged 54 years of Khadakwasla lodged a complaint with the economic offences wing ( EOW ) of Pune police. A formal FIR of cheating and criminal breach of trust was registered with the Bharati Vidyapeeth police station on Friday.
The Maharashtra Depositors’ Financial Protection Act has also been invoked against the firm owner who lived in Wadgaon Budruk and is a native of Belgavi in Karnataka, said senior inspector (EOW) Deepali Bhujbal. She said the accused had hired an office space in Ambegaon Pathar. “We have questioned his five employees, but they have also been cheated of Rs1 lakh to Rs15 lakh by the suspect who is missing at present.
” “So far, we have received 121 complaints and the number is likely to increase in the next few days,” she said. Police said the firm promised handsome returns ranging between 4% and 15% per month to investors. The suspect had also promised to double the amount invested within a year over and above the monthly returns, she said, adding that “After some initial payments, the investors did not receive any money.
The suspect used to threaten them with dire consequences if they tried to lodge a police complaint.” The firm owner had floated three major investment schemes and details of the plans had spread word of mouth among people, many of whom came forward to invest, Bhujbal said. “The owner made contracts with the investors and showed them their investment charts.
He gave post-dated cheques along with the contracts to investors to win their trust,” Bhujbal added. However, after accumulating investments worth several crores of rupees, the owner gradually stopped giving any returns. This made the investors anxious and they visited the office, only to find he had put a lock.
The firm owner remained in touch with investors through online meetings, but eventually disappeared, she said. We also published the following articles recently Tamil Nadu inks MoUs for Rs 850 crore investments from US firms Tamil Nadu government has signed agreements with three US companies for a combined investment of 850 crore. These MoUs aim to establish manufacturing facilities and R&D centres in electronics components and semiconductor sectors.
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