Pune, 9th December 2024: Builder Amit Lunkad is in hot water after allegedly collecting large sums of money from individuals promising high returns, but failing to deliver. The Economic Offense Wing (EOW) of the Pune City Police Commissionerate has launched an investigation into the matter following multiple complaints from depositors.
According to reports, Lunkad took crores in the form of deposits, with investors expecting returns of 1.5% per month. However, for the past year, no money has been returned to the depositors. Cases have been registered against Lunkad and his associates, Amol Kantilal Lunkad and Pushpa Kantilal Lunkad, following complaints filed by depositors with the Crime Branch’s EOW.
One of the complainants, Pravinchand Jain, claimed that he was convinced to invest in deposit schemes offered by Lunkad Realty after being promised high returns. Jain alleged that despite initially receiving regular returns, irregularities began in 2019. The situation escalated when cheques given by the Lunkads bounced due to insufficient funds, leaving Jain defrauded of a total amount of Rs 13.42 crore.
DCP Vivek Masal confirmed that the EOW is actively investigating the allegations of fraud against Amit Lunkad and others. The case serves as a cautionary tale for individuals looking to invest their money and emphasizes the importance of conducting thorough research before committing to any financial schemes.
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