Real estate agent held for duping man

A 40-year-old agent of Guruprasad Estate Empire Pvt Ltd was arrested by Deccan Gymkhana police for allegedly duping a man by promising him a two fold return on an investment of Rs 1 lakh in a short period

A 40-year-old agent of Guruprasad Estate Empire Pvt Ltd was arrested by Deccan Gymkhana police for allegedly duping a man by promising him a two fold return on an investment of Rs 1 lakh in a short period.

Police is now looking for directors of the company who had advertised about high returns at less risk and lured investors by promising them big money in short period.

The accused has been identified as Vijay Suryavanshi,a resident of Hadapsar. Prakash Arjun Shinde (34),a resident of Alegaon in Shirur taluka,lodged a complaint.

The company,with has an office at Mahalaxmi Heights in Pimpri,claimed to return double amount on an investment of Rs 1 lakh in four years or offered 2,000 sq ft land at the rate of Rs 50 per sq ft at Latur in Nanded among other places.

The complainant,who liked the proposal,paid Rs 1 lakh to Suryavanshi at a hotel on Prabhat Road on July 26 this year. However,the company did not return his amount and neither allotted him the land. Police officials said the company has also opened offices at Kolhapur,Sangli and Jalgaon.

Judicial Magistrate (First Class) A B Shaikh remanded Suryavanshi in police custody till September 16. Assistant Public Prosecutor Waman Koli argued his custodial interrogation was required to recover money and arrest his accomplices.

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