Published On : Fri, Feb 5th, 2016

Dubious company dupes investors of Rs 33.66 lakh, two key fraudsters booked

Nagpur: In yet another investment fraud, over 20 persons were duped to the tune of Rs 33.66 lakh by a fictitious company. Pratapnagar cops have booked two key accused and their accomplices in this regard.

The accused Krushna Rajnish Chaturvedi, native of Hyderabad, Mazahar Ali Beig and their accomplices set up a company named Prime Kest Promotion at Sai Apartment near Sparsh Hospital coming under Pratapnagar Police Station jurisdiction. After setting up the fictitious company, the accused started trapping the gullible persons by promising astronomical returns on their investments. The accused lured the prospective investors with 50 percent profit within a short period of 20 days. Falling prey to the lure, Samir Sheikh Sattar Ansari (37), resident of Bungalow No. 25, Isasani, MIDC and 20 other persons invested their hard-earned money to the tune of Rs 33.66 lakh into the fictitious company run by the accused. However, forget the high returns, not a single rupee of capital investment was returned to the investors.

Pratapnagar API M S Munde, acting on a complaint filed by Samir Sheikh Sattar Ansari and others, booked the accused fraudsters Krushna Rajnish Chaturvedi, Mazahar Ali Beig and their accomplices under Sections 420, 406, 34 of IPC read with Sub-Section 3 of Maharashtra Protection of Interest of Depositors (MPID) Act and launched an in-depth investigation into the case.