Investors submit memorandum to Joint Commissioner of Police in the absence of CP.
The cheated investors of Shree Surya, Wasankar Wealth Management, Raviraj Group, Satvik and others came under a common platform called “Peedit Niveshak Sangarsh Samiti, Vidarbha Vibhag” and took out a rally raising slogans decrying slow investigations and no-result-yielding actions by the government.
After the rally, they went to meet the Commissioner of Police. They were told that the CP was coming soon. However, after a wait of 25 minutes, a cop told these members of the delegation of aggrieved investors that the Commissioner of Police K K Pathak is busy in a meeting elsewhere and it will take longer for him to return. The cop suggested the delegation to meet the Joint Commissioner of Police Sanjay Saxena instead.
Jammu Anand, who headed the delegation, explained the entire case to Jt. CP Saxena in brief manner. He then explained to him, how the investigations are taking a long period after the registration of a case against such scamsters. This provides sufficient time to fraudsters to tamper with all their records. He explained how the Anti-Corruption Bureau strikes all the residences, offices simultaneously and seizes all the documents, movable and immovable properties. The offenders are immediately arrested giving no time for them to rectify or clean the records.
Delay in actual arrest after registering the case provides the offender enough time to clean his act as is the case of Shree Surya and Wasankar Wealth Management.
After a patient hearing to Jammu Anand, Joint Commissioner Saxena said that these investment groups succeeded in conning these investors because of sheer greed of people which these conmen exploited to the hilt. He explained that they should have used their common sense to understand, how is it possible for one company to give 40% returns when government financial institutions are unable to give more than 10%. Saxena explained that many senior citizens were targeted since they had the amount from their retirement benefits (GPF, Savings etc). These senior citizens know for sure that their income generation days are over and that their money can’t grow anymore. So they easily fell prey to the agents of these conmen.
He explained how the agents of all these conmen were common. He said that the Modus Operandi of all these agents is almost the same. They target the friends and relatives who in turn bring in their friends and relatives and the chain goes on.
The Joint Commissioner further said that just as ACB, the EOW too undertook an operation and struck early in the morning and seized all the incriminating documents, lap-tops, jewelery, cash, hard-discs etc from the residences. However, before investigating thoroughly, we don’t arrest the accused. Since, during the PCR request in the court, the defendants raise a lot of objections and that they should be prepared to face all the objections. Joint Commissioner Saxena explained how there are some loopholes in the Companies Act and how it is abused. He said that anyone can open a company with barely Rs 1000. He said that as soon as a case above Rs 50 lakh gets registered, we inform the Enforcement Directorate.
Joint Commissioner Saxena explained about the MPID Act. He said that this Act which was enacted in 1995 by Kirit Somayya, the then BJP Minister, and how the High Court repealed the Act. He said that the Supreme Court however upheld the Act and the Act came into being. The same Act was copied by many of the neighboring states too. He said that these aggrieved investors often feel that there is no use of resorting to legal recourse to seek justice and repayment of their invested money. This is true because there is no provision in the Act for the reimbursement of their invested money. He explained how Tamilnadu Government as an exception included some clauses in the Tamil Nadu Protection of Investors and Depositors Act (TNPID Act) which enables the depositors to get their money back what is called as the ‘Compounding’. When the properties of the scamsters are about to be attached, the EOW gives them a chance to dispose their property and pay back the money to all the investors.
Some of the investors told Saxena that Prashant Wasankar is supposed to have parked his money somewhere in Australia. Sources added that Prashant Wasankar has parked large amounts of money with his real brother who is a Doctor by profession in Australia. Joint Commissioner Saxena said that they have already informed the Enforcement Directorate about Wasankar parking huge sums in Australia. He added that they are investigating how the money was transferred. Most probably it was through Hawala transactions.
Joint Commissioner Saxena also said that unfortunately there is no rule to prevent such scamsters from duping innocent investors.
Prashant, Vinay and Abhijeet enjoy special treatment in lock-up at Ambazari Police Station
According to sources, Prashant Wasankar, Vinay Wasankar and his brother in-law Abhijeet Chaudhari enjoy special privileges which are denied to other persons detained in police lock-ups. They have chairs to sit, benches to sleep, blankets, mosquito coils etc for their comfort. They get to enjoy home-cooked delicacies inside the lock-up. They get to use the toilets of the police officers.
Very reliable sources said that Abhijeet Chaudhari was taken out of the lock-up in a car to his bungalow sometime between 12:30 am and 1:30 am. He went to his bungalow, brought two big bags and then returned to the police lock-up. All this without the knowledge of the Investigating Officer of the EOW PI Mane. However, when he got to know of what has happened, he rushed to the police station. But by then Abhijeet Chaudhari was already inside the lock-up.