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Showing posts from July, 2014

Seven more investors lodge complaint against Wasankar

“Police should assess property of Wasankar and also trace the money the fruadster has parked illegally,” said an investor By Dheeraj Fartode Seven more aggrieved investors who had invested their money in Wasankar Wealth Management Ltd. on Sunday came forward to register their complaints with Crime Branch. These new group of investors together have put in Rs. 1.5 crores with Prashant Wasankar who is now behind bar along with his brother, Vinay and brother-in-law Abhijit Choudhari on the charge of defrauding the investors. The trio are presently in police custody till August 2 and investigators are now desperate for more complaints so that they can build a water tight case against Wasankar and his associates. The Economic Offences Wing (EoW) which is entrusted with the probe in multi-crore fraud perpetuated allegedly by Wasankar has began tracking the properties held by his firm. A senior police Officer informed ‘The Hitavada’ that investors who were till now hopeful of getting b

Two major bizmen under EoW scanner in Wasankar case

Wasankar wealth management handled 4,000 demat accounts and 2,000 members. Many demat accounts were owned by the members, said a senior police officer By Dheeraj Fartode Two big names of business world of city have come under scanner of Economic Offences Wing (EoW) afteragency noticed that huge amount of money was parked by Prashant Wasankar with these businessmen. During scrutiny of documents seized from Wasankar Wealth Management Ltd Hill Top office, the police came to know about these shocking facts, which could put big names in trouble. After arresting Chairman of Wasankar Wealth Management Ltd Prashant Wasankar, his brother and Director of the company Vinay Wasankar and Director Abhijit Choudhary on Sunday for allegedly duping gullible investors with crores of rupees, EoW started interrogation of the three accused. After producing the accused in the court, the accused were taken to the EoW office for interrogation on Tuesday. Sources informed that Wasankar, who had current

Ponzi scheme scam affects 5,000 families, Rs 2,000 cr investment in limbo

More than 2,000 investors had parked their money in the company after heavy returns promised by Wasankar By Dheeraj Fartode After investigating all papers, which were seized from office of Wasankar Wealth Management Ltd, EoW sleuths believe that this controversial stockbroker’s liability towards his investors could be around Rs 200 crore, at least as per papers available with them. More than 2,000 investors had parked their money in the company after heavy returns promised by Wasankar, said EoW sources. Infact, according to Wasankar’s own claim, more than 5000 investors had invested money through his company. By a very conservative estimate, the total money invested with the group is pegged at anywhere between Rs 1200 crores to Rs 2000 crores. Many big time investors who parked their surplus and in some cases unaccounted money with him, are not likely to stake claim for money lost, for obvious reasons. The police had prepared a list of properties belonging to Wasankar and alread

Prashant Wasankar, his brother and a Director arrested for duping investors

Pathak along with 25 other investors had lodged a complaint with EoW for duping them to the tune of Rs 6 crore By Dheeraj Fartode At last the Economic Offences Wing (EoW) of Crime Branch on Sunday arrested Chairman of Wasankar Wealth Management Ltd Prashant Wasankar, his brother and Director of the company Vinay Wasankar and Director Abhijit Choudhary for allegedly duping gullible investors with crores of rupees. The accused are put behind bars of Ambazari police station and will be produced in the special MPID court on Monday, said Deputy Commissioner of Police (DCP EoW) Sunil Kolhe. Staff of EoW led by Police Inspector Sudhakar Dhane reached at Wasankar’s residence and arrested him. His brother Vinay and another director of the company Abhijit were arrested from their house at Cosmos town and Jaitala respectively. It may be mentioned that EoW had booked Chairman, Directors, Chief Executive Officer and three employees of Wasankar Wealth Management Ltd for allegedly duping

City becoming capital of financial frauds

Despite apparently unbelievable claim made by Wasankar and others, why do so many people invest their money in such schemes ? By Dheeraj Fartode Nagpur is fast becoming a hub for floating fraudulent financial schemes and swindlers who dupe gullible investors and then simply vanish into thin air leaving thousands of people in a lurch. More importantly, even if the promoters of such schemes are arrested, the money is never recovered as this financial wizards always create third party interests over all the movable and immovable properties owned by them. Mostly the properties are sold to investors themselves and like notorious Zambre couple, same property was sold to many people leading to a bitter legal dispute among themselves. From last one decade, Pramod Agrawal of Mahadeo Land Developers, Jayant and Varsha Zambre of J S Financial Services, Sameer Joshi of Shree Surya, Raviraj group and now Wasankar Wealth Management Group, the script is more or less same. Lure of high retu

MPCC Chief asks Congress leaders to bury hatchet

MPCC chief backs Chief Minister Prithviraj Chavan for doing ‘fantastic job’ By Dheeraj Fartode While firing salvo at Bharatiya Janata Party (BJP), Maharashtra Pradesh Congress Committee (MPCC) chief Manikrao Thakre urged the Congress workers not to get demoralised by defeat in Lok Sabha election but to concentrate on ensuing Maharashtra Legislative Assembly election. Firing salvo at Bharatiya Janata Party (BJP) National President Amit Shah, who had visited the Orange City on Friday, Manikrao Thakre said that people of Maharashtra who had faith in ideology of Phule-Shahu-Ambedkar would reject Shah’s model in the ensuing election of Legislative Assembly. Thakre was addressing Congress workers from West Nagpur in a meeting held at Sanskrutik Bhavan here on Saturday. MPCC chief Manikrao Thakre, Minister of State Rajendra Mulak, former minister Satish Chaturvedi, Congress city chief Vikas Thakre and others on dais during convention of West Nagpur Congress workers. Minister

New BJP President meets RSS chief

The closed-door meeting lasted for more than one hour at RSS headquarters, Mahal By Dheeraj Fartode Newly appointed national president of Bharatiya Janata Party (BJP) Amit Shah on Friday met Sarsanghachalak of Rashtriya Swayamsevak Sangh (RSS) Dr Mohan Bhagwat and Sarkaryawah Bhaiyyaji Joshi at RSS headquarters. The closed-door meeting lasted for more than one hour. According to highly placed sources, the top RSS brass and BJP president discussed strategy about upcoming state assembly polls and fine-tuning strategy to strengthen organisation and work with Government in tandem. Neither the BJP President nor the RSS spokesperson issued any statement about agenda discussed in the meeting and its actual outcome. Shah arrived at Dr Babasaheb Ambedkar International Airport on Friday morning by a service flight. A large number of BJP workers gave him a rousing welcome on his maiden visit to city. Though the tight security was maintained at airport, Shah freely mixed with workers a

Cops book Raviraj Investments for cheating investors

Another investment scam hits city Dhantoli police book office-bearars of Raviraj Investement for defrauding investors By Dheeraj Fartode Hapless citizens of Nagpur have once again been duped by another smart, suave, fly-by-night operator who gobbled crores of hard earned deposited by unsuspecting investors and vanished into thin air. Dhantoli police, on Tuesday, finally booked office-bearers of Raviraj Investment Company for defrauding investors to the tune of Rs 2.83 crore. Accused are absconding, said police. Accused are identified as Rajesh Suresh Joshi, Radha Rajesh Joshi, Surekha Joshi, Sarita Joshi, Sharad Joshi and other four agents. Complainant Vijay Waman Marathe (48), a resident of Vikas Nagar, Wardha road and three others had invested collectively worth Rs 2.83 crore in the company on January 2010. The company assured double returns of the money within three years. The amount and number of those cheated by company is much more and complaints are li

Maharashtra Government readies land units for 170 surrendered naxals at Gadchiroli

Campaign Navjeevan launched by Police Department saw top naxal cadre give-up arms State promises full resettlement and rehabilitation programme so that naxals can start a new chapter of their life By Dheeraj Fartode In a major boost to rehabilitation of surrendered Naxals in Gadchiroli area, Government has given its nod to allot land units for surrendered Naxals. Administration of Gadchiroli district has also identified plots for 170 surrendered naxals who have been identified as beneficiaries. Assistant Collector of Gadchiroli R Shiv Shankar (IAS probationer) confirmed the development while talking to ‘The Hitavada’ saying it would take around two months for completion of all formalities for allotment of the plots. The officer further informed that a huge Government land has been identified on Gadchiroli-Chandrapur State highway behind Navegaon village. Land levelling work has started and it will be completed very soon. Naxal in Gadchiroli There are 176 plots ad

City girl escapes 'matri'money fraud

By Dheeraj Fartode IT WAS surely a novel attempt by this conman. He wanted to make money from matrimony but the plan fell flat due to a city girl’s alacrity in the nick of time. Going a step ahead of the fake mails that give million dollars as prize money to unsuspecting victims, this fraudster had created a fake profile on a matrimonial site to lure naive girls into financial transactions on pretext of tying nuptial knot. The girl Ravina (name changed) had registered herself at popular matrimonial website jeevansathi.com in January 2014 by paying three months subscription. Soon she got a request from one Dr Mohit Deshpande, claiming to be a London-based cardiologist. The picture was of a handsome young man, and the profile ticked all boxes as required by a prospective groom. As friendship grew, Ravina and Dr Mohit started chatting on-line. The youth was active on net only after 11 pm Indian time. He told her that he was a native of Jalgaon district, working at the prest