Man in police custody for duping doctor of ₹95.5 lakh in Pune

A man from Pune has been remanded to the custody of the Pune police for duping a doctor of ₹95.5 lakh, by allegedly leading him to believe that the money was being used for trading on a dedicated demat account

PUNE A man from Pune has been remanded to the custody of the Pune police for duping a doctor of ₹95.5 lakh, by allegedly leading him to believe that the money was being used for trading on a dedicated demat account.

A man from Pune has been remanded to the custody of the Pune police for duping a doctor of ₹95.5 lakh, by allegedly leading him to believe that the money was being used for trading on a dedicated demat account. ((PIC FOR REPRESENTATION))

The arrested man was identified as Chetan Madhukar Deshmukh (39), a resident of Dalvinagar in Ambegaon Budrukh. Deshmukh was remanded to police custody for three days by a local court.

A complaint in the matter was lodged by a 42-year-old radiologist who owns a diagnostic centre in Pune and lives in Ambegaon. He allegedly started investing through Deshmukh in October 2016. He claims to have continued investing till July 2018.

“He made two demat accounts - one that he showed the complainant and the other one he made by forging the signature and using the information that was provided while making the first one. He did not give access to the complainant and used the money he sent for trades different from what the complainant agreed to,” said assistant inspector Ashish Kavthekar of Bharati Vidyapeeth police station, who is investigating the case.

After two years of investment, when the doctor was paying the tax, he realised the charges and missing funds in his bank account attached to the trading account, according to the police

A case has been registered under Sections 420, 406, 467, 468, and 471 of the Indian Penal Code (IPC) at the Bharati Vidyapeeth police station against Deshmukh.