Nagpur: In a significant development, police have booked six high ranking officials, including Chairman, of an investment company on the charges of duping hundreds of investors by promising high returns but later defaulting on many payments.
According to police, the six accused Amol Dhake, his wife, Mahendra Kohad, Atul Dixit, Sandeep Mahajan and Mohan Joshi in connivance with each other established an investment company named Satvik Group of Investment Company Private Limited at Plot No. 147, Puranik Layout, Bharat Nagar, Amravati Road, Nagpur. Amol Dhake was Chairman while other five accused acted as Directors of the company. The accused, with nefarious designs in mind, attracted prospective investors by promising astronomical returns on fanciful investments. Hundreds of investors have reportedly poured their money in the Group for high returns. However, forget the high returns, not a single rupee of capital investment was paid by the accused. One of the investors Sanjay Prakashrao Kashikar (50), resident of House No. 808A, in front of Model Mill Road, Karnalbagh, Nagpur was duped of his Rs 33,14,000 with no returns.
Ambazari Police Inspector Khade, acting on a complaint filed by Kashikar, booked all the six accused Amol Dhake, Mahendra Kohad, Atul Dixit, Sandeep Mahajan and Mohan Joshi under Sections 420, 406 of the IPC and Sub Section 3 of the Maharashtra Protection of Investors Deposits Act 1999 and probing the matter further.
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.
It is pertinent to recall that Nagpur Today had run a report titled: “Satvik Financial Services defaults on payments” wherein it was reported that as the dubious estate of ponzi schemes running with the lure of handing out high returns started to collapse, the investors have become wary of parking their funds into every other organization, especially those promising them high returns. After Shreesurya Scam and Wasankar Wealth Management defaulting hugely on payment, city’s another firm Satvik Financial Services Private Limited running its office from Bharat Nagar has come under the clouds for not paying to his customers as per the promise he made in his promissory note. The company has been operating its deposit schemes under its arm Satvik Investment.
“Forget the monthly interest, we are now running from pillar to post to get our principle amount and now he has even stopped responding to my calls,” lamented an investor who had parked Rs 5 lakh into his scheme on April 26, 2013. He was promised the monthly return of Rs 25,000 beginning 30 days after the execution of the promissory note. However, till date neither he received any interest nor his principle amount. The concerned investor has been going through the tough time following up the company’s Chairman Amol Dhake who reportedly floated the amount into other avenues. He also provided the post dated cheque (dated July 26, 2013) as the guarantee against the deposit. However the cheque has bounced twice for the lack of sufficient funds in the account.
“Dhake had been pestering for the investment through one of his mediators for a long time. I shelled out Rs 5 lakh for which I had to earn Rs 8 lakh as there is a 40% deduction on the earnings in the country i work. When I came to Nagpur I was given the promissory note and the guarantee cheque. He had promised the amount of Rs 25,000 till the maturity of the amount. However till this date, I have not received a single rupee from his side. He has even stopped responding to my calls now, nor he is giving any word as to when he would return my money.”