Pune: Man accused of cheating investors in Solapur surrenders

PTIUpdated: Tuesday, January 18, 2022, 09:08 AM IST
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A man accused of cheating investors and who was on the run for the past few days surrendered before police in Solapur in Maharashtra on Monday, an official said.

Vishal Phate, accused of cheating investors to the tune of several crore in Barshi tehsil there, was booked along with his wife, parents and brother and was absconding since January 9, he said.

Phate, who was accepting deposits since 2019 and was at times promising returns as high as 28 per cent, had issued a video earlier in the day promising to surrender by evening.

The process of arrest is underway, confirmed Additional Superintendent of Police Himmat Jadhav, Jadhav said over 70 duped investors have approached police and the cheating amount stood at Rs 18 crore now.

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