Entire Pune family accused in Rs 44 lakh share market scam

A major share market scam has surfaced in the city, with investors cheated of Rs 44 lakh.

The accused is an entire family: Rajendra Bardhe (43), Nirmala Bardhe (40), Vishal Bardhe (22), and Ashwini Bardhe (20) of Pune. Following complaints from six investors, a case was registered at Satara Police Station.

The scam began in October 2023 when Rajendra, claiming expertise in share market and land trading, convinced garage owner Mubarak Bin Habib Aljabri (43, Kiradpura) to invest. A weekly 1% return offer persuaded Mubarak to invest Rs 20,000 through his son, and initial returns were paid. The Bardhe family moved into a city flat to strengthen credibility. To attract more investors, the family held a hotel meeting, where Rajendra’s wife claimed to manage funds, his son handled trading, and daughter Ashwini posed as CEO of Capital Growth Marketing. Investors from Jalna also attended. They later opened an office in Aloknagar, Satara, promising 12.5% returns. Between October 2023 and May 2024, Mubarak invested Rs 16.17 lakh, receiving only Rs 5 lakh in returns. After September 2024, the Bardhes stopped payments, citing technical delays. Other investors included Pradeep Kolge (Rs 3 lakh), Kalinda Kolge (Rs 8.95 lakh), Pandurang Mhaske (Rs 4.10 lakh), Tushar Gupta (Rs 12 lakh), Mira Dhawne (Rs 2.25 lakh), and Devidas Dhawne (Rs 2.54 lakh). Total losses amounted to Rs 44.01 lakh. The Satara police are investigating the case.