Published On : Mon, Dec 8th, 2014

Satvik Group Chairman Amol Dhake arrested from Ram Nagar mandir for duping investors

Amol-DhakeSatvik Group Chairman Amol Dhake arrested from Ram Nagar temple for duping investorsIn a dramatic development, director of Satvik Group of Investment Companies, Amol Dhake, who is accused of defrauding hundreds of investors to the tune of crores of rupees, was arrested by Ambazari cops from a temple onSunday evening.
Amol had established Satvik Group of Investment Company in Puranik Layout (Bharat Nagar) inDecember 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. Thus, he collected crores of rupees up to 2013.
He started annoying investors when he denied them the returns due on their investments. Depositors became angry after cheques given by him bounced. When investors threatened to lodge police complaint, he would pursue them no to do so and would promise to return their money soon.