A recent case has emerged in Nashik, revealing a purported scam involving investments in the stock market, resulting in losses amounting to over ₹2 crore for approximately 15 to 20 individuals. The suspect, Pankaj Prabhakar Baviskar, allegedly enticed investors with promises of lucrative returns on their investments, only to disappear with their funds after three years.
The scheme, operating under the guise of Baviskar Enterprises, lured investors with assurances of doubling their investments within three years or offering an 18% return if the doubling did not occur. Among the victims, Jyoti Rajesh Dayma and her husband, along with several others, fell prey to this fraudulent scheme, investing substantial sums of money.
The fraudulent activities reportedly went unnoticed for nearly three years until March 2021, when the suspect, Pankaj Baviskar, absconded with his family, leaving investors in the dark about their investments. However, following recent developments, Baviskar was apprehended by authorities on Wednesday, April 17, prompting an investigation by the Financial Crimes Branch.
The case has now been registered with the Mumbai police station under various sections, including fraud, based on a complaint filed by Jyoti Rajesh Dayma. Authorities suspect that Baviskar may have defrauded numerous other investors, urging affected individuals to come forward and provide information to aid in the investigation.
