Nagpur: Prashant Wasankar, the alleged mastermind of dubious financial schemes duping many of crores of rupees in the name doubling the amount, would be sulking for what he has done. In first such case under Maharashtra Protection of Interest of Depositors (MPID) Act, 1999, in the city, a special court has okayed the auction of properties belonging to Wasankar.
A press note by city police stated on Wednesday that the estimated price of his properties spread across several cities is around Rs20 crore. They include 19 different plots, offices, and flats along with his own residence. Along with Prashant, his wife Bhagyashree and brother Vinay are accused in the case. The depositors would be paid back their money from amount received after auctioning the properties.
Wasankar is accused of duping thousands of depositors by promising returns much higher than banks through various schemes floated by his firm Wasankar Wealth Management Limited (WWML).|
The Economic Offences wing (EOW) termed him a ‘white-collared criminal’ and ‘habitual offender’ in identical crimes. It stated that the investigations were still underway and it had so far attached 55 accounts from nine banks of WWML collectively having Rs6.75 lakh.
On complaints of builder Vivek Pathak and scores of depositors, Wasankar and others were arrested on July 27, 2014. It was said to be among the biggest such schemes in Maharashtra, with the amount involved believed to be over Rs1,500 crore belonging to 5,000 depositors.
The Ambazari police registered an FIR under Sections 420, 406, 506, 120 (B) of IPC and Section 3 of MPID Act against Wasankar couple, brother Vinay, brother-in-law Abhijeet Chaudhary, Mithila and Sarla Wasankar, Kumud Chaudhary and others.