Pune News: Man Loses Crores In Housing Fraud, Jumps To Death

A 46-year-old man in Pune jumped to death from the eleventh floor of a building in Kharadi area on July 13 as he suffered financial losses amounting to crores of rupees.

The man identified as Prabhat Shubh Shambhu Prasad Ranjan was allegedly cheated by Ashtavinayak Firm with whom he had invested a substantial amount of money in a housing project, according to the police.

Asthtavinayak Firm owner Selva Nadar and his associates Prasad Shinde, Sachin Kumar Jagdev and Ajinkya Lokhande have been accused of alleged fraudulent dealings with Prabhat.

Victim's brother lodged complaint with police

The victim's brother, Rajiv Shambhu Prasad Ranjan, lodged a complaint with the Chandannagar police station, stating that the accused had coerced Prabhat into investing in the fraudulent housing project. Furthermore, one of the accused, Ajinkya Lokhande, reportedly purchased Prabhat Ranjan's Mercedes car for a sum of ₹ 7.5 lakh but failed to pay the remaining ₹4.5 lakh, adding to the financial strain on the victim.

The total fraud amount was estimated to be a staggering ₹ 1,17,50,000. Overwhelmed by financial distress and facing depression due to unemployment, Prabhat took the extreme step of ending his life.

He is survived by his wife and two children who were asleep at the time of the incident.

The Chandannagar police took custody of the body and sent it to Sassoon Hospital for autopsy. Additionally, the police found a bottle of poison in the victim's residence, raising suspicions of a possible alternative cause of death.

Assistant Police Inspector S Khandekar is currently conducting a thorough investigation into the circumstances surrounding Prabhat's suicide. A case of abetment to suicide has been registered against the four accused.