Pune man duped of ₹75 lakh on promise of high returns

A man from Kolhapur was duped of ?75 lakh by a group of individuals who promised him at least 40% returns on investment. A case has been registered.

A man from Kolhapur was duped of ₹75 lakh by a group of individuals who promised him at least 40 per cent returns on investment. The incident occurred between August 2021 and March 2023 and a case has been registered at Bharti Vidyapeeth police station on Wednesday.

A man from Kolhapur was duped of ₹75 lakh by a group of individuals who promised him at least 40 per cent returns on investment. (REPRESENTATIVE IMAGE)

The accused have been identified as Ganesh Ramchandra Padwal, Mayur Satish Wandare, Vasant Bhaguji Dagade, Prashant Maruti Paygude, Girish Paralikar, Dyaneshwar Khatawkar, Omkar Satish Wandare all are from Pune and Arihant Danpal Kupware from Ichalkaranji.

The victim has been identified as Satish Baburao Khodawe 40, from Kagal in Kolhapur district.

Police said, accused Padwal and Wandare approached the victim and lured him by promising 40 per cent returns on investment. They called the victim to Pune and convinced him that they will give him good returns. Initially the victim was hesitant, but the accused assured him that the investment was safe and backed by a reputable company.

However, as the Khodawe was not getting the promised returns he approached police and filed a complaint.