Nagpur: A major investment scam has come to light as the Ajni Police launch an investigation into the duping of two dozen unsuspecting investors who collectively lost Rs 1.71 crore to a fraudulent scheme. The three alleged masterminds behind this intricate plot have been identified as Vippankumar Premkumar Uke (35) and his wife Apurva (32), both residents of Plot No 143, Dhadiwal Layout, Jogi Nagar, and Jarnail Singh Lohiya (40), a resident of Plot No. 29, Rachna Mithila Society, Pipala, Hudkeshwar.
The accused operated under the guise of a sham finance company known as JV Micro Finance, strategically situated at Shatabdi Square. Collaborating as partners, the Uke couple and Jarnail Singh managed to carry out their illicit activities for a period spanning between 2019 and 2020.
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09 May 2025
Their modus operandi involved promising an alluring 13 percent interest rate on investments, effectively attracting the attention of unsuspecting victims. With enticing returns initially granted to early investors, the flow of individuals seeking to invest in the company swelled substantially. However, the fraudsters’ deceit soon became evident as they started defaulting on their financial commitments to the investors from July 2020 onwards.
Among those deceived was Milind Gujjaya Dhawde (63), a resident of Plot 58, Dayalu Society, Mahaveer Nagar, Jaripatka, along with several other victims who fell prey to the scheme. After realizing the extent of their losses, Dhawde and his fellow victims approached the police to register a formal complaint. The case swiftly gained the attention of the Deputy Commissioner of Police for Zone IV, who initiated a comprehensive investigation into the matter, subsequently instructing the Ajni Police to formally record the offense.
The case has been filed under Sections 420, 504, 506, and Section 4 of the Banning of Unregulated Deposit Schemes Act, 2019. Authorities have indicated that the number of victims involved in this fraudulent enterprise could potentially rise as investigations progress.
