Lured with promise of 10 per cent monthly returns; retired officer cheated of Rs 5 lakh

Lokmat News Network

Chhatrapati Sambhajinagar:

A retired officer was cheated of Rs 5 lakh after being lured with the promise of a 10 per cent monthly return on investment by Rajendra Vilas Kumbhar of Karad. Notably, despite being a senior citizen, the complainant had to repeatedly approach the police station for nearly two to two-and-a-half years before a case was finally registered.

The 62-year-old complainant retired as a Class I officer from the SSC Board. In March 2022, while browsing Facebook, he came across an advertisement of K3 Traders and Consultant, Karad, which displayed Rajendra Kumbhar’s contact number. After contacting him, Kumbhar offered a scheme promising a minimum investment of Rs 5 lakh with a monthly return of 10 per cent, payable after ten months.

Initially, the complainant invested Rs 1 lakh. As Kumbhar paid a small amount as returns, the complainant gained confidence and later invested a total of Rs 5 lakh. However, thereafter, Kumbhar stopped paying any returns and also stopped responding to calls and messages. The complainant had also met Kumbhar at a prominent hotel on the Kranti Chowk–Railway Station road.

No response after May 2023

From March 2022 to May 2023, the complainant repeatedly demanded returns, but received no response. He then approached the police. However, for nearly two to two-and-a-half years, the Satara police did not take cognisance of his complaint. Finally, on February 9, a case was registered at the Satara police station.