Mumbai: Three Arrested for Defrauding Traders, Farmers To The Tune of Rs 26 Crore
APMC apprehended two men who acted as directors of an export and import unit, along with their accomplice, for allegedly defrauding nearly 300 farmers, traders, and investors to the tune of Rs 26 crore.
Mumbai, March 17: Agricultural Produce Market Committee (APMC) apprehended two men who acted as directors of an export and import unit, along with their accomplice, for allegedly defrauding nearly 300 farmers, traders, and investors to the tune of Rs 26 crore. The arrested individuals have been identified as 34-year-old Nitin Prakash Parte, 33-year-old Deepak Sitaram Surve and 39-year-old Sachin Ashok Bhise.
As per police, Nitin Parte and Deepak Surve, acted as directors of a firm called Rudra Traders, while Sachin Bhise acted as their aide, reported Free Press Journal. The scammers allegedly deceived individuals by enticing them to invest in their business dealing with spices and dry fruits. Mumbai Brawl Video: Autorickshaw Drivers Thrash Passenger Over Minor Dispute Outside Vidhyavihar Railway Station, Video Surfaces.
The entire scam came to light when the APMC police investigated the matter at the behest of a complaint filed by Mahendra Dagdu Dere, a resident of Dombivli, who was cheated by the trio. Upon further investigation, the police found that Parte and Surve had defrauded hundreds of farmers and traders across the state along with their accomplice Bhise.
The scamsters reportedly acquired Rs 26 crore from the complainant and 300 other investors. The trio apparently lured the farmers and traders with lucrative investment schemes. The fraudulent scheme involved buying goods from farmers on the spot or offering a five percent profit if the traders were willing to invest in the said company. The trio assured the investors that the original amount would be refunded within 11 months. Navi Mumbai: Woman Gets Trapped After Grain Sacks Fall on Her During Cleaning at APMC Market in Vashi, Other Workers Quickly Come to Her Rescue (Watch Video).
Mumbai police have arrested the three culprits and a case has been registered under multiple sections of the IPC for defrauding the plaintiff and 300 other investors by providing false and counterfeit Fixed Deposit bonds allegedly from the Lakshmi Prakash Cooperative Credit Society as reimbursement for their investments.
(The above story first appeared on LatestLY on Mar 17, 2024 07:30 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).