Man who duped more than 50 investors arrested
The Dadar police have arrested a 46-year-old man for cheating several investors under the pretext of giving them five percent interest for their investment.mumbai Updated: Sep 04, 2016 00:16 IST
The Dadar police have arrested a 46-year-old man for cheating several investors under the pretext of giving them five percent interest for their investment.
According to the police officials, the accused has been identified as Vikas Murlidhar Talvanekar, a resident of Arnala in Virar. Talvanekar duped investors under the banner of Kuber Enterprises. After his arrest, ten investors have approached the police in which more than Rs1 crore is involved and the police have learnt that the accused has duped more than 50 people.
An officer from Dadar police station said, “The accused has started cheating people from 2014, as he initially started off with an advertisement with a city tabloid, from where he started getting investors. On the other hand, in order to create credibility, the accused had rented an office in Naigaon.”
Talvanekar had his first office in Naigaon in 2014 from April till May following which after getting enough investors, he went to Goregaon and then latest in Dadar (East.
“Initially, he even paid the money from the investments he received in order to seek more investors through the existing members. However, after getting enough investors from one region, he changed his location to Goregaon and then shifted back to Dadar in April 2015,” added an officer.
However, off late, the accused failed to give the investors the amount he had promised. “Talvanekar said that some rival organisation had filed a false complaint against him, after which SEBI had freezed his accounts,” said an officer.
Later, Talvanekar even started ignoring their calls, following which an application was submitted with the Dadar police station and a case was registered by the end of June.
Assistant police inspector Deepali Kulkarni from Dadar police station said, “We traced his location and arrested the accused from his residence on Thursday. The accused has duped more than 50 individuals and we are trying to contact them.”
The accused has been booked under section 420 (cheating and dishonestly inducing delivery of property) of the Indian Penal Code while police have formed teams to look after his accomplice.