Hanumant Shinde and his wife Manisha, the directors of MH Trading Company, have been accused of duping investors out of crores of rupees by luring them with the promise of a lucrative 60% profit on their investments. A case has been registered against the directors at the Jawaharnagar police station.
The complainant, Devanand Pendalwar, along with Keshav Wagh, Popat Shinde, Saroj Sarkale, Pallavi Varne, and himself, collectively invested ₹32.50 lakh in the company in 2022. Director Shinde, after providing returns on their investments for several months, suddenly stopped making payments. Despite their numerous attempts to persuade him to return their money, the investors were unsuccessful. Upon realising they had been deceived, they lodged a complaint with the Commissioner of Police. After verifying the complaint, a case was filed with the Jawaharnagar police station.
The police believe that additional investors may come forward, and they have encouraged anyone affected to contact the authorities and file complaints. The scale of the scam is estimated to be around ₹1.50 crore, according to sources.