Mumbai: 3 Booked For ₹43 Lakh Investment Fraud Targeting 13 Victims, Including Air India Staffer
· Free Press Journal
The Bhandup police have registered an FIR against three persons for allegedly cheating 13 investors, including an air hostess, of ₹43 lakh through a fraudulent investment scheme promising high returns.
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Accused Identified By Police
The police have identified the accused as Rajendra Sathe, Sunil Bhambardekar and Pradeep Maurya. A case was registered on March 18 under sections related to cheating, criminal breach of trust and criminal conspiracy.
Air Hostess Comes In Contact Through Family Link
According to the FIR, Pooja Wadkar, 30, an air hostess with Air India who resides in Kurla East, came into contact with Sunil Bhambardekar through her mother, who was previously acquainted with him at a company.
Meeting At Gargi Enterprises
In December 2023, Bhambardekar invited Wadkar and her mother to Gargi Enterprises in Bhandup West. There, he introduced them to Rajendra Sathe, who claimed to run the firm, and Pradeep Maurya, whom he presented as an agent in the business.
Lucrative Investment Scheme Offered
Sathe allegedly told them that several people, including Bhambardekar, had already invested in the firm and were earning substantial returns. The accused then offered an investment scheme promising returns of 30% per month.
Assured Monthly Returns Explained
They said an investment of ₹1 lakh would yield ₹20,000 as interest and ₹10,000 as part of the principal every month.
Initial Payments Build Trust
Trusting their claims, Wadkar invested ₹10 lakh in the scheme. The accused initially paid returns for a couple of months, which helped them gain her confidence and that of other investors. Encouraged by these payments, several others also invested.
Payments Stop, Doubts Arise
However, the accused later stopped the payments. When Wadkar approached them and demanded her money back, Sathe allegedly assured her that the funds were safe and claimed that he had invested the money in gold-related business ventures.
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Sathe later issued a cheque of ₹10 lakh from Cosmos Bank to her. However, when Wadkar deposited the cheque, it bounced, confirming her suspicion of fraud.
13 Investors Duped, Case Filed
Further inquiry revealed that 13 investors had been similarly duped, with the total amount reaching ₹43 lakh. Wadkar then filed a complaint against the three, following which the police registered an FIR against them on March 18 under Section 120(B) (criminal conspiracy) of the Indian Penal Code, along with other relevant sections.
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