Published On : Tue, Nov 10th, 2020

Rs 35 cr investment scam: Two accused brothers to face EOW probe

Nagpur: Two brothers, who allegedly duped investors to the tune of over Rs 35 crore on the pretext of high returns in digital advertising investment, will now face the heat from Economic Offences Wing (EoW). Sitabuldi police who had booked the two fraudsters on Monday handed over investigation of Rs 35 crore scam to the EoW.

The two con siblings, Sushil Ramesh Kolhe (29), Pankaj Ramesh Kolhe (27), both residents of Nimdevi, Kalamna, have been accused of defrauding over 3,500 investors from Maharashtra, Chhattisgarh and Madhya Pradesh by luring them of huge profit after investing in digital advertising.

It may be recalled that acting on a complaint lodged by Nagendrasingh Babusingh Thakur (65), a resident of Betul Ganj, MP, Sitabuldi police had registered a case of fraud and criminal breach of trust against the two brothers Sushil Kolhe, Pankaj Ramesh Kolhe and their accomplice Bharat Shahu. The Kolhe brothers had an office named Digital Advertisement at Utkarsh Apartment in Sitabuldi. They lured investors by offering three per cent interest and bonus per month on investment from April 2018 to November 2020. Hundreds of investors had invested in the company. However, they did not pay interest and bonus to the investors as promised even after the deadline was over.