A couple from Miraj has been booked under the Investment Protection Act for allegedly defrauding a government employee of Rs 30 lakhs by luring him with promises of high returns. The accused, Nitin Kallappa Yedure and Akshata Nitin Yedure, both residents of Budhwar Peth, Miraj, claimed to operate a firm named Sanvi Investment Security LLP. They assured investors of an attractive return of 4% on investments made in the stock market. Believing their claims, Javed Haroon Shaikh, a 38-year-old employee of the Irrigation Department and a resident of Sangli, invested a substantial amount and was subsequently duped.
Javed Shaikh lodged a complaint with the Miraj City Police, which led to an official case being registered on May 2. According to the complaint, the couple took advantage of the investor’s trust by using the firm's name to gain credibility. The police have begun a detailed investigation into the fraudulent activities. The couple allegedly misused investor funds and never delivered on the promised returns. Authorities believe the crime was premeditated and involved deliberate deception. The complaint has brought to light the need for investor caution when dealing with high-return schemes.
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Further investigations revealed that the Yedure couple had employed similar tactics to cheat multiple individuals in the Miraj and Sangli areas. Police have uncovered a pattern in their operations, suggesting a larger fraud network. The couple allegedly targeted people with steady incomes, offering them what seemed like secure and lucrative returns. As more victims come forward, the case is expanding in scope. This development has prompted the police to register charges under the newly enacted Investment Protection Law, which was designed to prevent such financial fraud and ensure investor safety.
Under the provisions of the new law, police authorities now have extended powers to investigate and detain suspects involved in financial scams. The Revenue Department has also been empowered to recover the defrauded money from the accused. The Miraj City Police have issued an appeal to the public, urging anyone else who may have been deceived by the Yedure couple to come forward and provide information. Assistant Police Inspector Bhairavnath Patil is currently heading the investigation. Authorities are optimistic about recovering the funds and delivering justice to the victims through swift legal proceedings.