Ponzi scam case of Rs 84 lakh: Ghatkopar police book man

In yet another ponzi scheme case, Ghatkopar police have booked an accused for duping a victim to the tune of Rs 84.16 lakh on the pretext of promising high returns on investments between fifty to seventy percent on the investment amount.

The victim Rajaram Jadhav (43) had invested Rs 84 lakh since 2008.The accused Mukesh Pawar (48) has been booked for cheating (Section 420) and common intention (Section 34) of the Indian Penal Code. Jadhav owns a garment shop at Ghatkopar.

Speaking to the Free Press Journal Jadhav said, "I had made the payments in several instalments. Between 2008 and 2010,I had paid Rs 20 lakh to Pawar. At the end of 2010, I received an amount of 30 lakh as returns. After that the accused asked me to invest in other policies and I invested the remaining amount. The accused stopped taking my calls after that. Later, he asked me to invest Rs 30 lakh in ‘Dam Dupatt Yojana’ to double the investments in 6.5 years at the rate of 70 percent.”

Jadhav had also paid Rs 30 lakh to the accused in November 2014 for purchasing a flat.

Since February 2017, the accused started avoiding Jadhav’s calls and messages since he did not receive the remaining returns on the investments. Jadhav made several visits to Pawar’s residence but he was not present.

The victim Jadhav is a resident of Mohammed chawl at Ghatkopar (W).

According to VB Patil, Senior Police Inspector, Ghatkopar, “We have registered a First Information Report(FIR) against the accused Mukesh Pawar. We are investigating if any other persons have also been duped by him.”