Nagpur: The Economic Offence Wing (EoW) of Nagpur Police has arrested Umesh Mendhe, the director of The Vidarbha Urban Credit Co-op Society, for defrauding its investors to the tune of Rs 1.19 crores.
According to police sources, the complainant, Anita Dharmendra Nagdevte (35), a resident of Gulshan Nagar, Kalamna, approached the EoW with a complaint. The accused, Mendhe, reportedly lured her and others with the promise of double returns in 84 months and collected money from them.
However, despite promising high returns through various investment schemes, Mendhe allegedly defrauded the investors collectively of Rs 1,19,57,715.
Based on the lodged complaint, a team of EoW led by DCP Archit Chandak conducted investigations and registered an offence against Mendhe and other office bearers of The Vidarbha Urban Credit Co-op Society. Mendhe has been arrested in connection with the case. Further investigation is underway.