Mumbai: An investment firm owner, the son of a retired policeman, has been booked for allegedly cheating at least 30 investors to the tune of ₹6 crore. On the other hand, the family of the accused, identified as Amol Bhosale, reported him to be missing and requested the police to trace him.
According to the police, Bhosale, the owner of A B Rajmudra Enterprises, an investment and risk management firm, ran the company for the last five to six years and was affiliated with a large brokerage firm.
According to the Shivaji Park police, the accused is identified as Amol Bhosale, the owner of A B Rajmudra Enterprises, an investment and risk management firm, which had its office at RL Vaidya Road in Dadar West.
According to the police, Bhosale ran the brokerage firm for the last five to six years and was affiliated with a large brokerage firm. “He used to also participate in various programmes and motivate Marathi people to invest in stocks, promising returns of 36% per annum. This way, he attracted many investors for around a year. He paid good returns to the investors and thus attracted more investments,” an officer from the Shivaji Park police station said.
Later, he started defaulting, the officer said, adding, “Meanwhile, on September 12, a missing person’s report was registered by the Dadar police after the accused’s father, a retired policeman, reported him missing. Amol dropped his wife at her father’s house and then went missing.”
{{/usCountry}}Later, he started defaulting, the officer said, adding, “Meanwhile, on September 12, a missing person’s report was registered by the Dadar police after the accused’s father, a retired policeman, reported him missing. Amol dropped his wife at her father’s house and then went missing.”
{{/usCountry}}Bhosale has been booked under sections 409 (criminal breach of trust by a public servant, or by banker, merchant or agent) and 420 (cheating) of the Indian Penal Code and under section 3 (fraudulent default by financial establishment) and 4 (attachment of properties on default of return of deposits) of the Maharashtra Protection of Interest of Depositors Act, 1999.
“We expect more investors to come forward and are appealing to people to lodge their complaints if they have invested with Bhosale or his firm A B Rajmudra Enterprises. Presently, 30 investors have approached us, claiming that they have invested in all ₹6.10 crores with Bhosale,” the police officer said, adding that most of the investors are from Dadar and Mahim areas.
Meanwhile, an officer from Dadar police station said that they were unable to trace Bhosale.
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