Mumbai News: Three Arrested By APMC Police For Duping Traders & Farmers Of ₹ 26 Crore

Mumbai News: Three Arrested By APMC Police For Duping Traders & Farmers Of ₹ 26 Crore

The trio cheated Mahendra Dagdu Dere, a resident of Dombivli, who lodged a complaint with the APMC police

FPJ News ServiceUpdated: Sunday, March 17, 2024, 04:27 PM IST
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APMC Police have arrested two directors of an export and import unit along with their accomplice for defrauding nearly 300 farmers, traders and investors of Rs 26 crore. Those arrested have been identified as Nitin Prakash Parte,34; Deepak Sitaram Surve, 33 and Sachin Ashok Bhise, 39.

According to police, Nitin Parte and Deepak Surve, acted as directors of Rudra Traders,having business of import and export of spices and dry fruits and situated at Satra Plaza, APMC Market, Vashi while Sachin Bhise acted as their accomplice.

The trio cheated Mahendra Dagdu Dere, a resident of Dombivli, who lodged a complaint with the APMC police. On investigating further, police came to know that Parte and Surve had cheated hundreds of farmers and traders across the state.

Fraudsters Duped Farmers and Investors of ₹26 Crore

The fraudsters collected Rs 26 crore from the plaintiff and other 300 investors by luring them with an investment scheme in which they buy goods from farmers on the spot and if they invest money in the said company, they will give 5 percent profit per month on the invested amount and the original invested amount will be returned in 11 months. By taking money and investing it without returning it even after expiry, people have been cheated by giving cheques and not cashing them.

Case Registered By Police Under Numerous IPC Section

Similarly, a case has been registered against the trio for cheating the plaintiff and other 300 investors by giving false and fake FD bonds of Lakshmi Prakash Cooperative Credit Society, as refund of the investment amount.

Since a large number of farmers have been cheated in this scam, case has been registered under sections 420, 406, 409, 465, 467, 468, 471, 34 of IPC along with sections 3, 4 and 5 of the Prize Chits and Money Circulation Act, 1978; sections 21, 22, 23, 24 and 25 of the Banning of Unregulated Deposit Scheme Act, 2019 and sections 3 of the Protection of Interests in Financial Institutions Act, 1999.

Special Team To Investigate

Under the guidance of DCP Pankaj Dahane, a special team has been constituted which is investigating further. Police have also appealed to the people to approach APMC police station if they have been cheated by Rudra Traders.

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