Published On : Thu, Aug 27th, 2015

EOW seizes cars, plot and flats of Wasankar in ponzi scheme fraud

: In another significant move, the sleuths of the Economic Offenses Wing of Nagpur Crime Branch, under the guidance of Deputy Commissioner of Police (EOW & Cyber Crime) Deepali Masirkar, made some very significant progress in the investigation of the ill-reputed Wasankar Case.

While speaking to Nagpur Today, Police Inspector Dane said that they have seized some goods and property belonging to Wasankar and his coterie. The seized goods include the following:

  1. Five cars,
  2. One plot
  3. Three Flats and other miscellaneous goods.

Till date the number of complainants has risen to around 502 and the amount allegedly fleeced by Wasankar and his cohorts is Rs One hundred and thirty six crores.

Wasankar and his cohorts have again applied for bail, but the Special Maharashtra Protection of Interest of Depositors Court (MPID Court) is not inclined to give bail to the accused. However, the MPID Court has directed the Police Officials of Economic Offenses Wing of Nagpur Crime Branch to expedite the investigation into the case and to frame the Charge-sheet at the earliest so that the trials could begin.

A brief about the Wasankar Case
The ponzi schemes floated by Wasankar Wealth Management being run by Dr. Prashant Wasankar  surfaced in the Second Capital City of Nagpur after a well-planned fraud perpetuated by Shree Surya Group. Wasankar Wealth Management company eroded the hard earn money of over 2000 innocent people by offering them quantum hike in their sum within short span of time. Wasankar charged huge amount membership as much as Rs. 1 lakh per annum and collected over crores of rupees. He assured the depositors by giving them post dated cheques offering around 30% interest on deposit.The sensational Wasankar group fraud case took a new turn after the investigating team dug out hidden property owned by the Wasankar family worth Rs 28 crore. According to sources, a big sum of Wasankar’s black property is being hidden by a builder and a known chef of the city. Wasankar was arrested in connection with the multi-crore scam in duping innocent investors to the tune of crores on July 27, 2014.