Mumbai: The Bhandup police have registered a case against Gargi Enterprises proprietor Rajendra Sathe, along with agents/office-bearers Sunil Bhambardekar and Pradeep Maurya, for allegedly cheating 13 investors of Rs 43 lakh by luring them with promises of high returns on investment.
According to the FIR, the complainant, Pooja Anand Wadkar, 30, an air hostess with Air India, resides with her family in Kamgar Nagar, Kurla (East). Her father, Anand Wadkar, 60, is a retired police officer. In December 2023, Bhambardekar, who was known to the complainant, called her to the Gargi Enterprises office located at Station Plaza, Station Road, Bhandup (West).
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When Pooja visited the office along with her mother, she was introduced to Rajendra Sathe. Bhambardekar informed her that he had also invested in the company, while Pradeep Maurya worked as an agent. The accused allegedly persuaded her to invest by offering lucrative returns. Sathe allegedly promised that an investment of Rs 1 lakh would yield Rs 20,000 as monthly interest and Rs 10,000 as principal repayment, totaling Rs 30,000 per month.
Believing the assurances, Pooja invested Rs 10 lakh in the scheme. Several other individuals also invested in the company. Initially, some investors received returns for one or two months, after which the payments stopped, raising suspicion of fraud.
When confronted, Sathe claimed he had taken a franchise of “Icon Gold Company” and invested the funds in gold, assuring that the money was safe. However, Pooja was not convinced and demanded her invested amount back. Sathe issued a cheque of Rs 10 lakh from Cosmos Bank, which later bounced.
Subsequently, Pooja lodged a complaint at the Bhandup police station, alleging that the accused had cheated her and 12 other investors. Based on her complaint, the police have registered an offence under relevant sections of the Bharatiya Nyaya Sanhita (BNS) Act, and have initiated further investigation.
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