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 back their returns are now becoming aware that its in their interest to lodge a complaint and have started approaching cops. Sources informed that a retired officer of Mahagenco was among the investors, who on Tuesday lodged a complaint against Wasankar. Six out of seven are retired government employees, who had invested their life long savings in the ponzi scheme hoping to make a killing based on assurances by Wasankar.

EoW had booked Chairman, Directors, Chief Executive Officer and three employees of Wasankar Wealth Management Ltd for allegedly duping investors of crores of rupees on May 9 on the basis of complaint lodged by well-known builder Vivek Ashok Pathak (51), a resident of ‘Shubh Ashish,’ Plot No 84/B, Laxmi Nagar. Following Pathak’s bold step, 24 more investors approached police and lodged their complaint against Wasankar. Now number of investors who have approached the police against Wasankar has reached to 32.

Meanwhile, a group of around 300 investors on Tuesday held a meet at Dagdi Park in Ramdaspeth and formed Wasankar Investors Action Committee. The committee would think upon steps that need to be taken to get back money of gullible investors.

The investors during the discussing said that they lost their hard earned money that they got as retirement benefits. Many of them were senior citizens and retired government employees. The action committee decided to knock doors of court and contest bail plea of Wasankar at appropriate time. “Police should assess property of Wasankar and also trace the money the fruadster has parked illegally,” said an investor on condition of anonymity.

Police are continuously interrogating both Wasankar brothers and Choudhari to ascertain details of investment made by them and as to how they utilised the money invested with them.

Wasankar’s properties not disclosed ? 

Meanwhile, the aggrieved investors have raised a serious question-mark over omission of details about properties owned by Prashant Wasankar and his family at Mangrul, Satnavari, Dongargaon, his Cosmos Town residence and Hill top office in the remand application. According to them, the prosecuting agency ought to have included all the details in the application and should trace more properties purchased by Wasankar from the money collected during all these years from gullible investors.

Aggrieved investors to stage dharna today 

Aggrieved investors have decided to stage dharna in front of Commissioner of Police office on Wednesday against inordinate delay and ineffective action against scamsters who duped thousands of investors in Nagpur. According to aggrieved investors, Wasankar had boasted to return money to all investors before July 25 and claimed that he had assets worth Rs 550 crores and had sufficient liquidity to discharge his liabilities. But during last two and half months, the cops had failed to unearth these properties and also money trail, the investors alleged.

According to Pidit Niveshak Sangharsh Samiti, Wasankar and Sameer Joshi had parked their money in South Africa and Australia and demanded a detailed probe into it. So far, no serious attempt has been made to trace the money trail, conduits and regulating agencies with sweeping powers have not been approached.

Jayant and Varsha Zambre of J S Financial Services, Sameer Joshi of Shree Surya, Raviraj group and now Wasankar Wealth Management Group, adopting almost identical modus operandi have swallowed huge money and duped gullible investors leaving thousands of people in a lurch, the samiti stated while declaring to launch a massive stir against these fradulent entities.

The aggrieved investors apprehend that these swindlers must have created third party interests over all the movable and immovable properties owned by them. Samiti has questioned the inaction by regulating agencies like RBI, SEBI, Department of Company Affairs and Income Tax department well in time to prevent this cheating.