Vasai Fraud: 3 Individuals Booked For Defrauding Retired Online Trading Professional, Others Of ₹15.4 Lakh In Share Market Investment Scam; Case Registered

Palghar, Maharashtra: Achole Police Station has registered a case against three individuals for allegedly defrauding a retired online trading professional and others of ₹15.40 lakh through a deceptive share market investment scheme. The fraud reportedly occurred between January and October 2024.

The complainant, Nagesh Siddappa Hokale (49), a resident of Mulund East, Mumbai, filed a report stating that he, along with his acquaintances Dheeraj Himatsingh Gaud, Kishor Parmar, and Uttam Patharwar, collectively lost the substantial sum.

According to the First Information Report (FIR), the accused, identified as Chetan Ramdas Jadhav, Amit Sham Rokade, and Jatsna Jadhav (all residents of Vasai East), allegedly conspired to defraud the victims. They gained the trust of the complainants by presenting a share market demo and promising high returns on investments.

The accused reportedly collected a total of ₹15.40 lakh from the victims for investment in the share market. While they provided returns for a few days initially, they subsequently stopped the payouts and refused to refund the principal amounts. It is alleged that the accused diverted these funds for their own investments, thereby committing criminal breach of trust and cheating.

The accused have been booked under Sections 420 (cheating and dishonestly inducing delivery of property), 406 (criminal breach of trust), and 34 (acts done by several persons in furtherance of common intention) of the Bharatiya Nyaya Sanhita (BNS) 2023.

The complaint was registered after an initial inquiry and with the approval of the Deputy Commissioner of Police, Zone-2, Vasai. As of the time of reporting, no arrests have been made in the case. Further investigation is underway to apprehend the accused and recover the defrauded amount.