Mumbai, Nov 27: The Bhoiwada police have registered a case against Namdeo Babaji Navale, 51, and Alka Deepak Mahadik, 43, for allegedly running a fraudulent investment scheme under the name “One Click Multitrade Sanstha” and cheating investors of Rs 4.41 crore.
Scheme Promised High Returns for Small Monthly Contributions
According to the FIR, the complainant, Madhura Mahesh Bhole, 45, a resident of Wadala (West), came in contact with Alka Mahadik, who lived as a tenant at the residence of Bhole’s brother-in-law.
In June 2023, Mahadik introduced her to an investment scheme run by “One Click Multitrade Sanstha” located at Haji Habib Chawl, Dr. Babasaheb Ambedkar Road, Dadar (East).
Investors Offered Rs 25,000 After 20 Months; Lucky Draws Held Twice Monthly
Mahadik allegedly claimed that if investors paid Rs 1,000 per month for 20 months, they would receive Rs 25,000 in the 21st month. She also said a lucky draw was conducted on the 16th of every month among 50 members, where the winner would get Rs 25,000 (after GST deductions) from the first month itself. Those who never won would receive Rs 24,140 (post-GST) in the 21st month.
Complainant Became Agent, Recruited Over 100 Members
Attracted by the returns, Bhole began investing and later became an agent, earning a promised 10% (Rs 100 per member per month) for each recruited member. She was introduced to the alleged founder, Namdeo Navale, who lived in Thane. Bhole eventually recruited over 100 members into the scheme.
Accused Ran Multiple Schemes, Used Gifts and Promotions to Attract Agents
Police said Navale frequently launched new schemes such as Lucky Star, Shubh Labh Lucky Card Contest, Gold-Silver Scheme, Happy Gudi Padwa Offer, Special Summer Offer, Monthly Salary Offer, and Gold-Silver Diwali Offer.
To lure more agents, he allegedly distributed gift items such as motorcycles, home theatres, refrigerators, and scooters, and circulated promotional pamphlets. Around 100–150 agents were recruited in this manner.
Lucky Draws Announced on YouTube and Zoom; Payments Stopped After April 2025
The accused also operated two YouTube channels where they announced results of lucky draws held via Zoom on the 16th and 30th of every month. Navale acted as host while Mahadik served as co-host. Winners were reportedly paid Rs 24,140 during the initial months, and returns were disbursed smoothly until April 2025.
Founder Became Unreachable; Office Shut Down
However, payments reportedly stopped thereafter. When Bhole contacted Navale, he allegedly claimed that funds invested in the stock market could not be withdrawn without incurring losses.
Soon after, Navale stopped answering calls and allegedly shut down the office, making him unreachable. Bhole claimed Navale owed her Rs 9.29 lakh, and she realised that she, along with 82 depositors, had been cheated.
Investors Lost Rs 4.41 Crore; Case Registered Under BNS and MPID
In total, Bhole and 32 other agents had collected money from around 2,000 depositors, amounting to Rs 4,41,78,920, which was allegedly misappropriated without returning investor deposits.
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Case Registered; Probe Underway
Following complaints from investors and agents, the Bhoiwada police have registered a case under Bharatiya Nyaya Sanhita (BNS) Act, sections 316(2) and 3(5), and relevant sections of the Maharashtra Protection of Interest of Depositors (MPID) Act, sections 3 and 4. Further investigation is underway.
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