Published On : Mon, May 12th, 2014

Wasankar goes into hiding? Rumours make investors tense in Nagpur

Prashant-Wasankar

Nagpur News: The latest development is on expected lines, albeit, rumours based. Speculations are rife that Prashant Jaideo Wasankar, the Chairman of Wasankar Wealth Management Group, which has allegedly duped hundreds of investors to the tune of crores, has gone underground. Several agents of the Group have also started deserting the office of the Group located at 247, Dharampeth Layout, Hill Road, Shivaji Nagar, Nagpur. The latest likely misdeed on the part of Wasankar is out of fear of violent backlash the defrauded investors might resort to.

Hordes of investors have been visiting the office of the Investment Group with uneasy heads and thought of Shree Surya Group like muddle in docking of their invested money. Other Directors of Wasankar Group are Vinay Wasankar, Maithili Vinay Wasankar, Bhagyashri Wasankar, Abhijit Chaudhary and Kumud Chaudhary while Chandrakant Rai, Deodutt Kardale and Kapre are employees.

At present, investigation into the matter is being monitored by DCP Sunil Kolhe of Crime Branch of Nagpur Police. The probe for the past three days has been focused on scanning of documents of Wasankar Wealth Management Group and Agrowealth Company. The Crime Branch is struggling with concerns that Wasankar might indulge in wiping out any documentary evidence in respect of the scam thrust upon the investors.  The day the investment scam was exposed by Nagpur Today, dozens of investors are dashing to the office on daily basis in the hope of recovering their money. Rumour mill that Wasankar was arrested on Sunday triggered a killing tension among investors. However, Ambazari police have denied arrest of Wasankar as yet. But it is on the cards, police said.


Police have barred the high-ranking operatives of the Investment Group from leaving the city until the investigation into the matter is completed. Police are also grilling the agents of the Group, majority of who are women. It may be recalled, an FIR in this connection has been registered at Ambazari Police Station.