Hey there, folks! Here’s some shocking news coming out of Pune today. Three individuals, including a retired businessman, have fallen victim to a massive financial fraud scheme, losing a whopping ₹9.5 crore in the process. The scam involved promises of high monthly returns through stock market investments, higher than what mutual funds can offer.
The case has now been handed over to the Economic Offences Wing (EOW), with Police Inspector Santosh Khetmalas taking charge of the investigation. The complaint was filed by Nitin Vasant Dake, a resident of Shukrawar Peth, at Nanded City Police Station. The accused individuals, Rajesh Ramgulab Kumar and Vandana Bhimrao Shirsat, are facing charges under the Maharashtra Protection of Interest of Depositors Act for their fraudulent activities between October 2022 and October 2023.
Dake, who was a former partner and director in a company, was introduced to one of the accused, Raj Kotaria, through a neighbor who conducted stock market training sessions. Falling for promises of an eight percent monthly return, Dake ended up investing a whopping ₹21.5 crore with the hope of high returns. However, he only received a fraction of his investment back, with the rest seemingly disappearing into thin air.
When Dake approached Kotaria for his remaining money in October 2023, he was given excuses about legal issues and promised a full refund by April 2024. But as time passed, communication with Kotaria ceased, and Dake soon discovered that the accused had absconded, leaving behind a trail of deceit and empty promises.
Further investigations revealed that Kotaria and Shirsat had also scammed two other investors out of ₹1.09 crore, bringing the total amount swindled to a staggering ₹9.5 crore, with Dake alone losing ₹8.41 crore.
As the search for the accused individuals continues, let this serve as a reminder to always be cautious when it comes to investment opportunities that seem too good to be true. Stay safe and vigilant, Pune!
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