The Court granted two more days of PCR extending till August 8, 2014.
With so much complaints and such a huge work load, the Investigating Officer who is investigating into the Wasankar Wealth Management case PI Dane requested the Court for an additional PCR of two days for both the accused Prashant Wasankar and Abhijit Chaudhary.
Special Judge (MPIDA) S P Muley had remanded one of the Director of Wasankar Wealth Management Ltd Vinay Jaideo Wasankar to magisterial custody till August 18. Soon after Vinay Wasankar was granted magisterial custody remand (MCR), Crime Branch officers sent him to Central Jail.
Meanwhile, accused Director Mithila Wasankar, wife of Vinay Wasankar, who had filed an anticipatory bail application, was granted ad-interim bail till August 8. Similarly, court granted ad- interim bail to accused Director Bhagyashree Prashant Wasankar, Kumud Abhijit Choudhary, Devdatta Kardaye and Suhas Khapre.
It could be recalled that on May 9, 2014, the EoW officers had booked Chairman of Wasankar Group Prashant Wasankar, Maithali Vinay Wasankar, Abhijit Jayant Choudhary, Kumud Choudhary, Vinay Wasankar, employees Chandrakant Rai, Kardaye and Khapre on charges of cheating, criminal breach of trust.
With the arrest and incarceration of Prashant Wasankar and his brother-in-law Abhijit Chaudhari, the investors have started coming forward to register their complaints to the Economic Offenses Wing of the Crime Branch. The number of complaints against Wasankar Wealth Management has risen to 110.
However, neither the Commissioner of Police K K Pathak nor the Deputy Police Commissioner of Police Sunil Kolhe feel the need for providing additional staff to the Investigating Officer. Presently the IO has to write down the complaints also, investigate the documents, verify facts also, attend to the courts also and perform all such duties alone. With the existing officers and staff, it is very difficult to perform all these duties alone. There is also a need for a financial expert who can look into the books of accounts with a wide experience to identify and bring out the financial frauds committed by Wasankar.
Sources said that recently while speaking to some media, the Commissioner of Police is reported to have said that a delegation of more than 200 investors had come to him and had submitted a request to give bail to Prashant Wasanakar. He is alleged to have said that he is in a dilemma as to what is to be done, while those investors who had complained against Wasankar want him incarcerated and punished for duping them.
One more point that needs to be pondered is that only those people will come forward to complain against Wasankar, whose amount matures at a later date. The date could be as late as 2015 or 2016.
The cops also need additional staff to ascertain exactly how many investors have invested in his ponzi schemes. How much of it was in cash and how much of it was by cheques. One main point is how much of the invested amount is in their book of accounts (IT returns). Once ascertained, the cops need to interrogate Prashant Wasankar where the cash has been stowed or invested.