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Pune: Businessman duped of Rs 1 crore on pretext of turning black money into white; four arrested

The accused told the businessman about a company based in West Bengal which gives returns worth Rs 1.3 crore when someone invests a crore with them.

By: Express News Service |
September 18, 2021 10:51:53 am
Nikhil Kadam, a businessman from Pimpri, had lodged the FIR at the Khadak police station.

Pune city police have busted a gang and arrested four people who duped a businessman of Rs 1 crore on the pretext of turning his black money into white.

Police have identified the accused as Prakash Anand Mane of Worli, Mumbai, Vinod Deepak Pardeshi and Nayan Pravinbhai Borate of Pune, and Sameer Bhaskar Vaze of Goa.

Nikhil Kadam, a businessman from Pimpri, had lodged the first information report (FIR) in this case at the Khadak police station. Police said that Kadam deals in wholesale stationery. He came in contact with Mane through a common friend. Mane allegedly told Kadam about a company based in West Bengal which gives returns worth Rs 1.3 crore when someone invests a crore with them.

Later, during a meeting at Panganti chowk in Shukrawar Peth on October 1, 2020, Kadam allegedly gave Rs 1 crore in cash, expecting good returns. However, he never got back his money. It is then that Kadam lodged a complaint of cheating against Mane at Khadak police station.

Police booked the accused under Sections 420, 34 of the Indian Penal Code. “Probe is on regarding the money that the accused had taken from the complainant. This appears to be a major case and the accused might be a part of an inter-state gang involved in cheating more people. Search is on for two more accused wanted in this case,” a press release issued by senior police inspector Shrihari Bahirat read.

Police informed that Mane was earlier booked as well for cheating by the Mumbai police.

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