Complaints pouring in against Wasankar

24 more investors approach EoW
Wasankar not divulging anything to cops 

By Dheeraj Fartode
Investors are now openly coming against Wasankar Wealth Management Ltd and lodging complaint against Prashant Wasankar. Mustering courage, 24 more investors on Wednesday approached Economic Offences Wing (EoW) and lodged a complaint against Wasankar. Now number of investors who have approached the police against Wasankar has reached to 51.
A senior Police Officer informed ‘The Hitavada’ that 24 investors have registered case against Wasankar. Sources informed that the 24 investors include Advocates, officers of Tata Consultancy Services (TCS) and retired government employees. Some investors, who had invested more than Rs 1 crore, have also lodged complaint against Wasankar on Wednesday, sources confirmed.
Now, liability of Wasankar towards the 24 investors, who had lodged complaint reached to more than Rs three crore. As more investors are approaching police, the case is getting legally stronger, said a legal expert.
Sources informed that Wasankar who is now behind bars along with his brother Vinay and brother-in-law Abhijit Choudhari on the charge of defrauding the investors, has refused to divulge anything about his assets, where exactly money has been parked and has not shared anything about his business module and actual loss and profits with the cops.
The trio are presently in police custody till August 2 and investigators now want more complaints so that they can build a water tight case against Wasankar and his associates.
A investor on request of anonymity informed that the investors who were till now hopeful of getting back their returns are now demorlised and approaching EoW sleuths.
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.

Investors met Joint Commissioner of Police 

investors of various wealth management company including Wasankar Wealth Management Ltd on Wednesday meet Joint Commissioner of Police (Joint CP) Sanjay Saxena and submitted a memorandum demanding stern action against Prashant Wasankar and other directors of the company. Deputy Commissioner of Police (DCP EoW) Sunil Kolhe was present during discussion with the investors.
The investors under the banner of Pidit Niveshak Sangharsh Samiti gathered at Commissioner of Police office at evening hours and met the joint CP.
Jammu Anand, Convenor of the committee told ‘The Hitavada’ that city is fast becoming hub for financial frauds. Thousands of gullible investors have been duped by fraudesters in past five years. The fraudsters had not followed any regulation of RBI, SEBI, Department of Company Affairs and Income Tax department and the institutions had not taken any action against them.
The delegation also questioned that a investor had lodged a complaint against Raviraj Investment and police have not yet arrested the accused. Infact, despite open violations by such companies and their promoters, the cops just keep quiet till the people are taken for a ride.
The investors questioned inordinate delay in arrest of the accused after registration of case. Anand further said that Wasankar Wealth Management Group, Jayant and Varsha Zambre of J S Financial Services, Sameer Joshi of Shree Surya, Raviraj group duped gullible investors of city and police should take stern action against them so that the investors could get their money back.
S B Butoliya, Tryambakaro Waghmare, Arunrao Banodekar, Vishnupant Murle, Chandrakant Tiwari, Asha Nakale, Vivek Pathak, Ajay Pannase, Nishit Pashine, Ashish Shahu, Vinod Ulipwar, Shankar Maurya and others were part of the delegation.

All accused in Wasankar case will be arrested : Joint CP 

Joint CP Sanjay Saxena told ‘The Hitavada’ that the police are on right track and no guilty person would be spared. As per the legal procedure, police have to submit chargesheet within 60 days after arrest of the accused. As the investigation of financial frauds take too much time 60 days are not enough to submit the chargesheet. Hence, police have arrested the accused after some time after registering of case so that basic paperwork is ready and their fradulent transactions are studied. “All accused in the Wasankar case will be arrested soon,” the Joint CP assured.