A man, who previously ran a stock broking firm and has been recently arrested in a separate case, was booked for allegedly duping a man of ₹73.28 lakh on the pretext of higher returns on investment. Tejas Ghadigaonkar has been arrested by the Sindhudurg police while the cheating case was filed by the VP Road police.
According to the first information report (FIR) registered under relevant sections of the Indian Penal Code, including 420 (cheating), the accused lured Sameer Manjrekar, 42, to invest in the stock market by promising good profit. Ghadigaonkar also inked an agreement, stating that he would also get a share of the return.
Another clause mentioned that the aggrieved would get investment along with the profit within eight months. Between August 2019 and June 2020, the complainant invested ₹80.71 lakh, but he didn't get the profit in the stipulated time frame. When asked, the accused assured that he would definitely get the money.
Later, he returned ₹7.43 lakh to Manjrekar, said a police official. Manjrekar lodged a complaint when he didn't get the remaining amount. Ghadigaonkar had a stock broking firm Buckler Equities And Financial Services LLP in Wadala and he was its managing director. Sometime ago, he closed the firm. Investigating officer Parag Ukarde said that the accused was arrested by the Sindhudurg police one-and-a-half-months ago and he is currently in judicial custody. The VP Road Police is going to seek his custody next, he added.