The man who operated a firm called Ashtavinayak Investment in Camp area of Pune and lured people with a promise of getting them huge returns on their investment was booked yesterday by Pune Police.
Now, as per the report by IE, it has come to light that the accused targeted high-income IT professionals through telemarketing calls. The accused took loans in the name of investors and told them that the loan amount will be invested in the firm itself and they see big returns and they would not have to repay the loans, the official said.
300 Crore Scam
The Pune police on Saturday registered a case against him for allegedly luring investors with a promise of big returns and cheating them to the tune of Rs 300 crore.
The Bundgarden police on Friday registered an offence under relevant provisions of the Indian Penal Code and Maharashtra Protection of Interest of Depositors (MPID) Act based on a complaint lodged by an investor who allegedly lost Rs 36 lakh in the fraud, the official said.
Preliminary investigations into the complaint revealed that the accused had allegedly cheated at least 200 investors by taking loans in their names, he said.
No arrest has been made in the case so far and further probe is underway, the official added.
(With inputs from agencies)
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