In a significant financial fraud case, the Dhantoli police in Nagpur have initiated legal action against ten individuals for allegedly orchestrating a massive investment scam that duped dozens of people of crores of rupees.
The Core of the Allegation: Promises of High Returns
The First Information Report (FIR), which was officially registered on December 19, outlines a scheme where the accused are said to have attracted investors by guaranteeing lucrative monthly returns. The primary complainant, Sarika Anjangaokar, a 30-year-old resident of Bhandewadi, came forward with her story. She invested ₹13 lakh in the private company after being assured a monthly return of 4%, which would have translated to ₹8,120 per month.
According to her complaint, the payments continued only until March 2025. After that period, all returns abruptly ceased, leaving her and many others in financial distress.
Scale of the Fraud and Accused's Defense
The investigation reveals that the scam's scale is substantial. A total of 61 investors collectively deposited a staggering sum of ₹14,24,60,000 into the accused's private firm. When investors began questioning the halted payments, the accused reportedly provided a justification. They claimed that the pooled funds had been invested in a share market company based in Singapore and continued to assure investors of future returns.
However, these assurances proved empty, as all payments stopped completely from April 2025 onwards. The company operated from an office located at Dev Nagar Chowk on Khamla Road in Nagpur.
Legal Action and Wider Pattern
The Dhantoli police have registered a case under multiple sections of the new Bharatiya Nyaya Sanhita (BNS) 2023, specifically Sections 318(4), 316(5), 316(2), 61(2), and 3(5). Additionally, charges have been invoked under Section 3 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999.
The named accused in the FIR include Samir Narvekar, his wife Neha, Pratik Jasutkar, his father Sanjay, mother Varsha, among others. As of now, no arrests have been made. The investigation is being led by Police Sub-Inspector Krishna Wagh and is actively ongoing.
Sources indicate that this is not an isolated incident. The same company and its promoters are facing similar allegations in other parts of Maharashtra, including separate cases registered in Yavatmal, Chiplun, and Pune, where investors have reported identical issues of non-payment of promised returns.
This case highlights the persistent risks associated with investment schemes promising abnormally high returns and underscores the importance of due diligence before committing funds to any private financial establishment.
