Published On : Mon, Dec 8th, 2014

Satvik Chairman Dhake sent to PCR till Dec 15, amounts of duped investors may touch crores

Amol Dhake

The Satvik Group Chairman Amol Dhake, who was arrested from a Ram Nagar temple on Sunday on the charges duping investors in lakhs, was on Monday produced in a court. The court has sent Dhake to Police Custody Remand (PCR) till December 15.

Ambazari Second Police Inspector Balasaheb Khade told Nagpur Today that so far 16 investors have lodged complaints against accused the Satvik Group Chairman Amol Dhake for duping them to the tune of over Rs 44 lakh. The amount of fraud could go into crores as more and more complaints are expected to be lodged by the duped investors following arrest of Dhake. The investigation into dubious affairs of Satvik Group and its promoters in luring investors with high returns and then defaulting in payments is going in going in right direction. Every detail would be revealed after the probe is complete, said Police Inspector Khade.

Amol Dhake had established Satvik Group of Investment Company in Puranik Layout (Bharat Nagar) in December 2005. He lured people into his trap by promising high returns. Amol and his associates had promised double returns in 42 months, three months, six months and one year. Hundreds of people fell into the trap and invested incomes of their lifetime in Amol’s Satvik company. Initially, some investors got partial interest, but Amol’s associates forced them to invest this amount in other investment plans of Satvik company. The Satvik Group, following the sly steps of scamster groups – Shreesurya, Wasankar, Raviraj and many other such scandalous companies — allegedly defaulted on many payments and thus left the investors high and dry.