A 28-year-old man posing as an employee of Art of Living (AoL) Foundation was arrested for duping a man of Rs 1.4 crore by allegedly using the foundation’s name. The police suspect him to have duped multiple other people in the same way.
The man identified as Pranay Uday Khare (28), a resident of Salunkhe Vihar in Kondhwa, has been remanded to four days in custody of Pune police by a local court.
He allegedly organised camps in the name of AoL and told the attendees that he worked as the district development co-ordinator for the foundation while running a company called JK ventures.
“He used the goodwill that comes with the name of the company and made people believe that he had purchased 7,000 acres in Ratnagiri through his company, JK Ventures. Due to his perceived association with AOL, the complainant trusted him,” said police sub inspector Deepak Mane of Unit 4 of Pune police crime branch.
He offered lucrative returns if a person invested in an acre for 15 years, according to the complainant Ashwinikumar Kamble (44), a resident of Aundh.
Kamble invested Rs1,45, 16,111 in the fake venture in 2017, he told the police.
{{/usCountry}}Kamble invested Rs1,45, 16,111 in the fake venture in 2017, he told the police.
{{/usCountry}}“The first 11 investors were promised returns of Rs 1 crore in 15 years, the next 50 investors were promised Rs 50 lakh and the rest would get Rs 40 lakh: that is what he told people. We are looking for other victims in the case,” said PSI Mane.
The man has several other companies which are suspected to be fake - Vistar307, DYogic, AHO Lifestyle Private Limited, and a communication agency, according to the police.
A case under Sections 406 (criminal breach of trust) and 420 (cheating) of Indian Penal Code was registered against Khare at Chatuhshrungi police station.