Nagpur: Avinash Bhute, Director of Tajshree Honda and one of the accused in the high-profile Wasankar investment scam, on Thursday surrendered before Special Judge Munghate who remanded him to magisterial custody.
It may be recalled that Bhute had moved an application before the MPID court few months ago to return Rs 9.19 crore deposited in his dealership account by the prime accused Prashant Wasankar, but later the same was withdrawn. Bhute had prayed to restrain Cime Branch from initiating any coercive action against him for alleged links with Prashant Wasankar, kingpin of several Ponzi schemes under Wasankar Wealth Management.
The prime accused Wasankar family members are languishing in jail after they were arrested for duping thousands of investors to the tune of hundreds of crores. EoW has so far filed chargesheets against prime accused Prashant Wasankar, Vinay Wasankar, Abhijeet Jayant Choudhary, Mithila Vinay Wasankar, Sujit Mujumdar, Sarika Chandel, Bhagyashree Prashant Wasankar, Kumud Choudhary, other directors and officers of Wasankar Wealth Management, Sarla Security and Wasankar Investments under Sections 406, 409, 420, 506, 120(b) of the Indian Penal Code, read with Sections 3 of the Maharashtra Protection Of Interest Of Depositors Act (MPIDA), 1999, Section 45(1)(a), 45(s) of the Reserve Bank of India Act and Sections 24(1) and 27 of the Securities and Exchange Board of India (SEBI) Act, 1992. During ongoing investigations, EoW came across many high value transactions defying all logic and decided to interrogate every beneficiary to ascertain whether transaction was genuine or merely an eye-wash to gobble the money.