Fraud of Rs 38 L by luring victims with promise of high returns

3 women accused arrested

Lokmat News Network

Chhatrapati Sambhajinagar: A case was registered at Pundaliknagar Police Station against a family that cheated several citizens for lakhs of rupees by luring them with promises of high returns through investment in a business of importing and selling expensive mobile phones.

Police Inspector Ashok Bhandare said that the three women accused were arrested in connection with this case. The accused include Shrikant Balasaheb Malthankkar (Shivajinagar), his wife Manisha Suresh Bagul, his mother Rekha Balasaheb Malthankar and his sister Swati Balasaheb Malthankar. Of the four accused, three women were arrested.

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How fraud unfolded

Complainant Dhiraj Ravindra Sonawane (Sara Rajnagar) had developed an acquaintance with Shrikant Malthankar through mobile repair work. Shrikant falsely claimed that he imports Apple and Samsung phones and sells them in the Indian market, earning huge profits.

He lured Sonawane by promising big returns within 30 to 40 days if money was invested in this business. Sonawane invested approximately Rs 12.25 lakh in his own and his wife's name. However, he received back only Rs 4.60 lakh, leaving Rs 6.65 lakh still pending with Shrikant.

Not just Sonawane, but many other reputable citizens like him have also been similarly cheated. According to the complaint, Suresh Santosh Pawar was defrauded of Rs 16.51 lakh, Raju Sureshrao Nagarkar of Rs 11.92 lakh, and Rajendra Sundarlal Jyotishi of Rs 3.49 lakh. PSI Varsha Kale is probing the matter.

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Transactions through women's bank accounts

The accused carried out all fraudulent transactions through the bank accounts and PhonePe accounts of Shrikant's wife, Manisha (alias Swara) Suresh Bagul, Swati Malthankar, and Rekha Malthankar. The complaint states that all of them conspired together, gained the trust of the victims, and committed financial fraud of Rs 38.59 lakh.