E-Paper
Yerawada police book three for cheating investors of ₹11.40 crore
Yerawada Police book 3 financial firm office-bearers for cheating investors of ₹11.40 crore. Accused promised returns, but failed to refund. IPC sections invoked.
The Yerawada Police Station have booked three office-bearers of a financial investment firm for cheating nine investors of total amount of ₹11.40 crore between January 20, 2023 and April 6, 2024. The accused have been identified as Nikhil Mishra, Nikhil Chaddha and Zubin Gandhi.
Preetam Suresh Uplap, 34, of Hadapsar lodged the FIR in the case. The complainant stated that he transferred ₹2,45,50,000 online and gave ₹45,25,000 in cash to the accused who promised return of 4 per cent on the invested amount. The company returned ₹45,50,000 and issued post-dated cheques for the remaining amount of ₹2,45,25,000.
When he repeatedly demanded the refund, the accused fell back on their promised amount to breach of trust despite signing a written document to the effect. Besides the complainant, the accused have cheated nine accused of ₹8,95,20,058.
According to the police, ₹11,40,45,058 has been siphoned off by the accused.
The police have invoked IPC 420, 406, 409 and 34. Inspector Madhuri Jadhav said that a cheating case has been lodged against the accused.
