A Chartered Accountant ( CA ) from Pune has reportedly fallen victim to an investment fraud, losing Rs. 18.65 lakh in a failed share market scheme.
The Nigdi police registered a case on Sunday against a 47-year-old resident of Akurdi, who allegedly deceived the CA with promises of lucrative returns on share market investments.
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The CA, a 34-year-old, filed a complaint stating that he was introduced to the suspect during a stock market trading coaching class two years ago. The suspect reportedly convinced the CA to invest Rs. 34 lakh between 2022 and 2024, assuring returns between 3% to 5%. However, the suspect returned only Rs. 15 lakh during this period.
Additionally, the culprit is accused of using the CA’s demat account to pledge shares worth Rs. 13.65 lakh, obtaining a loan against them.
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Despite repeated follow-ups by the CA, the suspect failed to repay the remaining amount, prompting the CA to approach the police.
The Nigdi police have registered a case under Sections 406 (criminal breach of trust) and 420 (cheating) of the Indian Penal Code, and further investigations are underway.
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