Former corporator, son booked for investment fraud

The Economic Offences Wing (EOW) of the Pune Police is currently in charge of investigating the complaints against Uday Trimbak Joshi (65) and his son Mayuresh (46)

The Vishrambaug Police have registered a case against former Bharatiya Janata Party (BJP) corporator and his son, residents of Panmala, over complaints of alleging duping many individuals to the tune of ₹5.50 crore by promising returns on investments made in an LPG gas agency.

According to the police, the complainants claimed that Mayuresh did not take permission from the Reserve Bank of India and offered a 12% annual interest scheme for investors from 2021 but they did not receive any returns. (REPRESENTATIVE PHOTO)

The Economic Offences Wing (EOW) of the Pune Police is currently in charge of investigating the complaints against Uday Trimbak Joshi (65) and his son Mayuresh (46). Nine individuals have filed complaint claiming to have fallen victim to the fraud investment scheme. The process of registering additional complaints is on.

According to the police, the complainants claimed that Mayuresh did not take permission from the Reserve Bank of India and offered a 12% annual interest scheme for investors from 2021 but they did not receive any returns

Vishrambaug Police Station has filed a case under Sections 420, 34 of the IPC. Section 3 of the Maharashtra Protection of Interest of Depositors (in financial establishments) Act, 1999.