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Realtor duped of ₹60 lakh, trading firm official from Kolhapur held
A businessman from Kolhapur was remanded to police custody for duping a Pune resident of ₹60 lakh through false investment schemes and related ads
A businessman from Kolhapur was remanded to police custody for duping a Pune resident of ₹60 lakh through false investment schemes and related ads.
The trading firm was identified as Shubh Trade Biz India Limited Liability Partnership, according to the police.
The arrested man was identified as Abhijeet Dhondiba Sawant (40), a resident of Kolhapur while the others booked in the case were identified as office-bearers of a stock trading company and one other person, according to the police. He was remanded to nine days in police custody by a local court.
“The complainant is a realtor. So far, we have received four other complaints against this trading company. We urge other victims of this company to come forth and register their complaint at Sinhagad road police station. We suspect them to have duped multiple others,” said assistant police inspector Shankar Salgar of Sinhagad road police station who is investigating the case.
The complainant is a 29-year-old man residing in Nanded City area of Haveli in Pune.
The man told the police that in July 2020, he invested ₹63,00,000 in the trading company based on advertisements in newspapers, YouTube, and Facebook among other online platforms. The ads promised monthly returns as well as gifts like car, two-wheeler, and gold upon investment.
The company managed to return ₹3,78,000 to the complainant over the next few months. However, the money stopped coming after a few days.
The complainant has also alleged that when he went to the accused man’s office, the man’s colleague and co-accused threatened him with a gun on December 22, 2020.
On January 20, the other accused who is yet to be arrested, allegedly called the complainant and his relative to his office in Narhe and verbally abused them before threatening to name them in a false case and vandalised their car, according to the complaint.
The police are investigating if there are other victims in the case.
A case under Sections 406, 417, 419, 120(b), 506(2) and 34 of Indian Penal Code along with Section 3(25) of Arms Act, relevant sections of the Prize Chits and Money Circulation (Banning) Act, Section 37(1) with 135 of Maharashtra Police Act and Section 3, 4, 5, and 6 of Maharashtra Protection of Interest of Depositors Act was registered at Sinhagad road police station.
