Published On : Wed, Oct 12th, 2022
By Nagpur Today Nagpur News

Nagpur EOW arrests fraudster, absconding for two years, for duping investors of Rs 35 crore

Nagpur: In a major success, the Economic Offences Wing (EOW ) of Nagpur Crime Branch arrested the fraudster Sushil Ramesh Kolhe, absconding for two years, for allegedly floating shell companies and duping investors of Rs 35 crore by promising them high returns. Kolhe is one of the three accused.

A resident of Nimdevi Nagar, Wanjara, Kamptee Road, Sushil (33), his brother Pankaj Kolhe and Bharat Shankar Shahu allegedly had floated AGM Corporation, AGM Digital Ltd, Janseva Mutual Benefit Nidhi Ltd, Sanjay Traders Pvt Ltd, Discovery & Media Family Foods, Sussex Life Project Multiple Marketing Pvt Ltd, Mohd Aslam Haji Munna Miya and other shell companies.

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The accused trio invited people to their Civil Lines office and lured them with a promise to double their invested amount in 18 months. They also assured high profits like fund sharing, royalty and bonus in other schemes. To gain the investors’ confidence, Sushil and Pankaj Kolhe had also entered into formal agreements with them. People, not only from Nagpur, but from different cities had parked money in their ponzi schemes. Later, Kolhe brothers and Shahu defrauded the investors of over Rs 30-35 crore by neither returning their invested money nor extending any benefit to them.

One of their victims, Nagendrasingh Thakur from Madhya Pradesh, had approached the then Maharashtra Home Minister Anil Deshmukh with a complaint during his grievances redressal camp in the city two years ago. Subsequently, inquiries were conducted into the matter and a case under Sections 406, 409,420, 34 of the Indian Penal Code, read with Section 3 of the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, was registered against Kolhe brothers and Shahu at Sitabuldi Police Station.

Later, the case was handed over to the EOW for further probe. Police Inspector Mukund Kawade, who is now investigating the case, said that investors cheated by the accused should contact the Office of the DCP (EoW ), fourth floor, Administrative Building No 1, Civil Lines or on his cell number 9823212677.

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