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    Published On : Wed, Nov 15th, 2017

    Six from Mumbai booked for cheating investors

    Crime Fraud
    Nagpur: Six persons from Mumbai have duped thousands of people and fled away with nearly Rs 50 crores in the name of investing their money in companies. API Zade of Dhantoli police station has registered an offence against Varsha Madhusudan Satpalkar, Laxmikant Shrikrishna Navekar, Nitin Choudhary, Janardhan Arvind Parulekar, Wasi, Mumbai, Vijayshankar Taware, Pulwara road, Virar and Vijay Mistri under section 406,409,420,34 of IPC and under 3,4,5,6 of Prize Chit Fund and Money Circulation Act.

    According to one of the investor Santoshkumar Rajbali Mishra, 48 resident of Jawaharnagar, Nagpur, six person had formed 4 companies and cheated the investors through Prize chit Fund and Money Circulation Company. They had not taken the permission of the Reserve Bank of India and still collected money from the investors assuring dividends. After collecting the money they closed down the company and fled from the scene.

    Santoshkumar Rajbali Mishra told the police that the six accused persons had formed companies namely Maitrye Prvt Ltd, Maitrye Floater and Structures Pvt Ltd, MaitryeSuvarna Siddhi Pvt Ltd on 28 Dec 1998. Santoshkunmar and about 6000 to 7000 investors had invested in these companies. The accused persons collected nearly Rs 50 crores, later closed the companies and instead started Prize Chit Fund and Money Circulation. Under this they lured agents on pretext of giving prizes and dividends and asked them to get investors. Soon these culprits closed down their office at Ganeshpeth and started another office at Fortune Mall at Munje Square. Santoshkumar invested Rs 1.15cores in the company. After sometime the msicreants closed the company and vanished from Nagpur.

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