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MPID Court extends PCR of Wasankar brothers, Choudhary

Police found that 70-80 per cent investments were accepted by the accused in cash and the same was not reflected in the company’s account By Dheeraj Fartode Special Judge (MPIDA) S P Muley on Saturday extended the police custody remand (PCR) of Chairman of Wasankar Wealth Management Ltd Prashant Jaideo Wasankar and his brother-in-law and Director Abhijit Jayant Choudhary till August 6. The court also extended the PCR of company Director Vinay Wasankar till August 4. Arrested on charges of cheating, criminal breach of trust, criminal intimidation, criminal conspiracy and also under the provisions of the Maharashtra Protection of Interests of Depositors (In Financial Establishments) Act, 1999 for allegedly duping investors of crores of rupees, Wasankar brothers and Choudhary were produced before Special Judge by Investigation Officer Inspector Sudhakar Dhane as their first PCR ended on Saturday. Seeking extension of their PCR for nine more days, Special Public Prosecutor (SPP

Anup Kumar Singh is new Joint CP

Deputy Commissioners of Police Mina, Darade and Pokale transferred By Dheeraj Fartode State government have effected the transfers of 90 senior police officers including 60 Indian Police Service (IPS) officers and 20 State Police Services (SPS) officers, including that of Joint Commissioner of Police Sanjay Saxena from Nagpur. Anup Kumar Singh, who was Special IG of state Anti-Naxal operation (ANO), has been brought in place of Saxena. Saxena will take up his new posting as Special Inspector General Force 1 at Mumbai. Chandra Kishore Mina and Sanjay Darade, who were Deputy Commissioner of Police (DCPs) of Zone III and Zone IV respectively, are posted as Superintendent of Police (SP) Akola and Yavatmal respectively. DCP (Special Branch) Ramanath Pokale has been transferred as SP Washim. Nirmala Devi, who was posted as SP Washim, has been posted as DCP Nagpur. DCP Amravati Sanjay Latkar has been appointed as DCP Nagpur city. DCP (CID Nagpur) Paurnima Gaikwad has been pos

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 str

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