Sitting amid the blackened remains of his home, 32-year-old Nikesh Gawali carefully broke open a half-melted plastic box with a screwdriver. His hands shook slightly, not out of fear, but out of hope. “I’m trying to find my daughter Aarti’s gold earrings,” he said quietly, still focused on the box. “She’s just five. I got them made recently after months of labour work.” The plastic box, warped and blackened by heat, was one of the few things left from his two-room house on the outskirts of Dhamangaon village . All around him lay ash, broken tin sheets and charred wooden beams. The walls had cracked under the heat and the front room’s tin roof had caved in completely. What remained was a blackened debris all around - almost nothing to suggest a home once stood there. Nikesh earns his living as an agricultural labourer, like many in the village. Work is uncertain and depends on the season. Those earrings weren’t just jewellery - they were a small dream, a reward for his hard work,...
More than 2,000 investors had parked their money in the company after heavy returns promised by Wasankar
By Dheeraj FartodeAfter 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 already had issued instructions to the registrar’s office to bar any transactions related to these assets. Wasankar was operating in the name of Wasankar Wealth Management and there is another entity, Wasankar Agro, in whose name some property has been purchased off Amravati Road.
A senior police officer informed that Wasankar had current accounts in Axis Bank, ICICI Bank, Indian Overseas Bank (IOB), HDFC Bank, and co-operatives banks. The sources further informed that every investor has parked minimum Rs 10 lakh in the company. It can be also mentioned that Wasankar had assured his investors that they would get their money back as per their plan after EoW had booked him for criminal breach of trust. However, the balance in the bank accounts, trading accounts and even properties is so pitiable that it is doubtful whether any investor will get anything after all the properties are put to auction or liquidated. The proceeds are distributed on pro-rata basis.
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