E-Paper
36 employees, policemen of Mantralaya duped of ₹1.28 crore
On Thursday, Sanjay Pandurang Narsale, assistant superintendent at the accounts and treasury department in Mantralaya, filed a complaint against Bhalekar, proprietor of Archit Enterprises, a share trading firm in Bhandup (West).
Mumbai: The proprietor of a share broking firm was booked for allegedly duping 36 state government employees and policemen posted at Mantralaya of ₹1.28 crore. The accused – identified as Lalit Vishnu Bhalekar – took money from them by assuring returns on their investment. However, neither did he refund the money nor paid them the assured return.
On Thursday, Sanjay Pandurang Narsale, assistant superintendent at the accounts and treasury department in Mantralaya, filed a complaint against Bhalekar, proprietor of Archit Enterprises, a share trading firm in Bhandup (West).
“In March 2018, Narsale – a Worli resident – came to know about Bhalekar through his colleague, Manish Chalke. Chalke told Narsale that if anyone invests money with Bhalekar, then he gives a monthly return of 5-6%. Narsale called Bhalekar, who informed him that he invests the money of his clients in shares and earns good profit for them,” a police officer said.
“Narsale initially invested ₹4 lakh and as promised Bhalekar gave him ₹24,000 as interest for the first month. This bolstered Narsale’s trust in Bhalekar and he then spread the word about the investment. Following this many other government employees and policemen posted at the state secretariat invested in shares through Bhalekar’s firm,” added the officer.
The investors initially received promised returns, however, later Bhalekar started defaulting. When angry investors visited his office in Bhandup West he promised them that he would return their money with interest. Later, Bhalekar and his elder sister Aarti Tawde visited Mantralaya and gave assurance to the investors that they would soon get back their money, the FIR said.
However, none of the investors got their money back. When angry investors visited his Bhandup office, they found it closed and realised that the accused had defrauded them and had escaped, stated their police complaint.
Between January 2017 to September 2022 the accused defrauded 36 government employees and policemen posted at the Mantralaya and some others to the tune of ₹1.28 crore, the complaint added.
After failing to locate him for months the investors finally in September 2022 submitted a police complaint. A preliminary inquiry was conducted and the Marine Drive police station registered a case.
The police have booked the accused Bhalekar under sections 406 (criminal breach of trust) and 420 (cheating) of the Indian Penal Code and are looking for him. He is still wanted by the police.
