Pune: ED Cracks Down On ₹100 Crore Investment Fraud Scheme In Katraj

Pune: The Enforcement Directorate (ED) on Tuesday took action in Pune's Katraj area against a group accused of defrauding investors to the tune of ₹100 crore by establishing fake companies. A case has been registered against five individuals at Bharti Vidyapeeth Police Station, with a search underway for the absconding suspects.

The accused individuals have been identified as Vinod Tukaram Khunde, Santosh Tukaram Khunte, Mangesh Khunte, Kiran Pitambar Anarse, and Ajinkya Badve.

According to the police, the accused had set up IPS Group Offer Company and Global Affiliate Company, promising lucrative returns to investors. People from across the state invested in these companies, but the funds were not deposited into the company account. Instead, the accused used a fake name to open a bank account where the collected money was stashed.

Some investors were coerced into acting as intermediaries to attract more funds, with promises of substantial returns. The mastermind behind the scheme, Vinod Khunte, also founded Kana Capital, a foreign exchange trading company, and lured investors to invest in it before abruptly closing the company and disappearing.