Thane mass murder: Hasnain was in debt of Rs68 lakh, say police | mumbai | Hindustan Times
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Thane mass murder: Hasnain was in debt of Rs68 lakh, say police

Police sources said they are investigating if Hasnain suffered losses in the share market

mumbai Updated: Mar 05, 2016 17:53 IST
HT Correspondent
Hasnain Warekar, who killed 14 members of his family, had borrowed Rs10 lakh each from his mother and two aunts. He had also taken a loan of around Rs7 lakh from one of his brothers-in-law.
Hasnain Warekar, who killed 14 members of his family, had borrowed Rs10 lakh each from his mother and two aunts. He had also taken a loan of around Rs7 lakh from one of his brothers-in-law.(HT photo)

The investigations into the Thane mass murder case have led the police to believe that Hasnain Warekar, who killed 14 members of his family, may have invested a huge amount in the share market.

The police have found Hasnain was in debt of around Rs68 lakh. They have recorded statements of his close relatives, including his brothers-in-law, and accessed his bank accounts.

Read more: Thane family massacre: Financial motive under police lens

Police sources said they are investigating if Hasnain suffered losses in the share market. “We are trying to find out if Hasnain had invested in the share market and suffered losses, leading him to take the drastic step,” said an officer, who did not wish to be named. He added that his demat account details were being looked into.

Hasnain had borrowed Rs10 lakh each from his mother and two aunts. He had also taken a loan of around Rs7 lakh from one of his brothers-in-law.

“It is clear Hasnain had loaned money from his mother, two aunts, brother-in-law and also from financial institutions. The amount comes to around Rs68 lakh,” said a high-ranking officer privy to the investigation.

“We are in the process of finding out where the money went – if it had been invested or whether Hasnain had incurred losses. He was in the process of starring a business venture and was gathering funds for that,” the officer added.

The police top brass are also consulting with psychiatrists to understand if a mental disorder could lead to such the incident.

“It is quite possible he was living in an illusion or a false belief that led him to commit a crime of this scale,” said the senior officer.

Investigations have also revealed Hasnain had rented a room at Majiwada in Thane. “He could have rented the place to set up an office. We are investigating the reason behind renting the room,” he added.