Lured by promises of high returns in the stock market

Chhatrapati Sambhajinagar

A case of fraud amounting to approximately Rs 86.71 lakh has come to light in Vaijapur, where a retired soldier and his associates were allegedly deceived with promises of high returns on stock market investments. Following the complaint, Vaijapur police registered a case against two individuals, including a woman, on Saturday at 10 am.

According to the complaint filed by retired soldier Sanjeev Matsagar ( Jarul), the accused Sachin Bade and Ashwini Khedkar (both residents of Khirdi, Pathardi, currently residing in Swami Samarth Nagar, Vaijapur) established a company named Swami Enterprises Private Limited. They allegedly lured investors by promising a 10% return on investments in the stock market. Tempted by these assurances, Matsagar and his associates invested Rs 86.71 lakh between July 19 and October 10, 2024. However, the accused neither provided the promised 10% returns nor refunded the original investment, leading to financial losses for the complainants. Based on the complaint, Vaijapur police have registered a case, and further investigation is being conducted by PSI Vijay Deshmukh.