1 day Ago
A real estate developer in Pune was defrauded of Rs 6.3 crore by a couple who promised him 18% returns on share investments over four years. PUNE: A real estate developer from Hingne Khurd was cheated of Rs 6.
3 crore by a couple on promise of handsome returns in share investment between 2019 and March this year. The victim lodged a complaint with Deccan Gymkhana police and the case was taken over by the Pune police's Economic Offences Wing (EOW) for further investigation on Friday night. The couple has been identified by the police.
The police said they were operating from a small office in the Deccan area where the cheating took place. The couple spread the word among investors and the developer also happened to receive an invitation to invest in shares through the firm. The police said the developer visited the couple's office in 2019 and the duo promised an 18% return on his investment.
Since 2019, the developer invested a total sum of Rs 6.3 crore. The couple also signed a few agreements with the developer which the developer has submitted to the police.
The couple was supposed to return the invested amount as well as the profit to the developer whenever he demanded it. Recently, the developer wanted to retrieve his investment as well as the profit from the firm, but the couple refused to return his money. The developer then approached the police with his complaint.
The police are yet to visit the couple's office. KEY HIGHLIGHTS A real estate developer from Hingne Khurd was deceived out of Rs 6.3 crore by a couple who promised high returns on share investments.
The developer invested the total sum of Rs 6.3 crore between 2019 and March 2023, expecting an 18% return as guaranteed by the couple. After the couple refused to return the invested amount and profits, the developer filed a complaint with the Deccan Gymkhana police, leading to an investigation by the Pune police's Economic Offences Wing.
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