Doctor held for duping man of ₹2.21 crore in investment fraud

The city police arrested a 28-year-old doctor, from Kolhapur, on allegations of duping a man of ₹2.21 crore by promising over 70 per cent returns on investment in an educational institute located at Satara

Pune: The city police arrested a 28-year-old doctor, from Kolhapur, on allegations of duping a man of ₹2.21 crore by promising over 70 per cent returns on investment in an educational institute located at Satara, which was already sold off.

Dr Deshmukh was produced before a magistrate’s court in Pune on Tuesday and remanded to police custody until September 15. (REPRESENTATIVE PIC)

The accused has been identified as Dr Sanjog Mahadev Deshmukh of Shivaji Park, Kolhapur and hailing from Khatav in Satara. The complaint was filed by a resident of Aranyeshwar, Pune, at the Sahakarnagar Police Station on July 20.

Dr Deshmukh was produced before a magistrate’s court in Pune on Tuesday and remanded to police custody until September 15.

According to the police, the accused, who came in contact with the accused in 2021-22, lured the victim to invest in Satara-based educational institute for 70 per cent returns. The complainant approached the police when he came to know that the institute was already sold out.

Sahakarnagar Police Station had filed a case under Sections 406, 420, 409, 506, 504, 120(b) and 34 of the IPC on July 20.