Chhatrapati Sambhajinagar
The scam of the Abha Investment and Land Developers at Golden City Centre in the Chikalthana MIDC area came to the fore a few days back. The founder of the company Pankaj Shivaji Chandanshiv lived in a house having only two rooms but embezzled crores of rupees through his company. He started a shares investment course through his company. He attracted several investors with the lure of giving lucrative seven percent interest on the investment and fled away.
On Saturday, ACP Dhananjay Patil searched his office and seized some documents and computers.
A case of embezzlement was registered with Cidco MIDC police station against Chandanshiv, his wife Priyanka (Jaibhavaninagar), Shivaji Rode (Harsul Savangi), Sominath Chandanshiv and Sominath Narwade. Several teachers, ex-servicemen, police employees and other professionals had invested in the company. He also established the Dyanoba Urban Credit Society and made an embezzlement.
Initially, the police received a complaint of the embezzlement of Rs 2.47 crore, but the scope of the scam is expected to extend to Rs 60 crore. API Dhananjay Patil is further investigating the case.