Published On : Thu, Oct 16th, 2014

Cops file supplementary charge-sheet against Wasankar, others in duping of investors case

dr.prashant wasankar
In a significant development, Crime Branch of Nagpur Police has filed a supplementary charge-sheet in the District and Sessions Court against Prashant Jaideo Wasankar and others, all associated with Wasankar Wealth Management Ltd, in duping of investors case. The probe in the multi-crore scam has almost been completed. The next hearing in the case will be held on October 17.

Earlier, Prashant Wasankar and others had petitioned for a default bail but the District and Sessions Court had rejected their plea.

It may be recalled, Prashant Wasankar of Wasankar Wealth Management Ltd and his associates allegedly promised astronomical returns in fanciful but fraudulent investments. Hundreds of investors have reportedly been lured and duped.  However, Wasankar and his group defaulted on many payments and thus left the investors high and dry.It is surfaced that the Wasankar Wealth Management Company has eroded the hard earn money of over 2000 people by offering them quantum hike in their sum within short span of time.  Wasankar allegedly charged huge amount membership as much as Rs. 1 lakh per annum and collected over Rs 2000 crore. He assured the depositors by giving them post dated cheques offering around 30% interest on deposit.