Man booked for ₹4.37 crore cheating fraud in Pune

Pune: The Sinhgad police have lodged a case against a 40-year-old person for allegedly cheating an investor to the tune of ₹4.37 crore on the pretext of investing their money in share market and promised him 24 per cent returns. The accused has been identified as Abhijit Appaso Vihar of Oakwood Hill Society in Baner and the crime took place between July 2020 and Jan 2021.

According to the FIR, Vihar floated a company “AR Trading” where he dealt in forex trading, share trading and construction. He took ₹5 crore from the investor and returned ₹62.50 lakh as return on investment. Later, he did not return ₹4.37 crore to the victim. A case under IPC 420 (cheating) and Information Technology (IT) act has been lodged against the accused. ACP Narayan Shirgaonkar is the supervisory officer in the case.