Pune – Deccan Express – Economic and cyber crime branch of the police has arrested an Chartered Accountant (CA) for duping investors of Rs 16 crore 16 lakh 95 thousand 470. More than 400 depositors have been duped in the hope of getting good returns on their investments in the stock market.
Kailas Radhakisan Mundada (age 42, Rohan Kritika, i/601, Sinhgad Road, Near Rajaram Pool, Pune) is the name of the arrested CA. Earlier the main accused in this case Maheshkumar Bhagwandas Lohia (age 31, Shiv Sagar Residency, Flat No. E 1/103, Suncity Road, Near Saraswat Bank, Anandnagar, Sinhgad Road), Sunil Purushottam Somani (age 54, C 314, Raviraj Heritage, Bhau Patil Road, Bopodi, Pune), Gajanan Mahadev Mane (age 30, Triveni Building, Panchavati Nagar, Parli Vaijnath, Dist. Beed) have been arrested.
A 51-year-old woman has filed a complaint in this matter. The accused Maheshkumar Lohia and Sunil Somani were arrested by the police on 25 September 2019. While the accused Gajanan Mane was arrested by the police on 3 October 2019. Presently the accused Maheshkumar Lohia is in jail from court custody. The accused Sunil Somani and Gajanan Mane are out on bail. The incident took place during November 2016 to September 2019 at Shivkanya Investment (1360, Bharat Bhawan, Office No. B-307) in Shukrawar Peth.
Maheshkumar Lohia deposited a cheque of Rs 10 lakh given by the complainant for long term investment in his bank account. He sent false information about the account, a fake profit and loss statement by email. The accused misled the complainant by sending false messages. In this case, more than 400 citizens have been cheated.
Police arrested Mundada on Tuesday and produced him in the court. He forced the investors to invest by showing them the lure of profits. Forensic audit has concluded that he accepted Rs 1 crore 10 lakh 62 thousand 444 from the main accused. Mundada being a professionally CA, some investors are his clients. Maheshkumar Lohia gave false share trading statements to investors.
Investors were forced to pay income tax on the profit of that statement so that there was no suspicion of tax evasion. Public prosecutor Maruti Wadekar demanded that the accused be sent to police custody for further investigation. Special Judge SS Gosavi sent Mundada to police custody till August 2.
The case is being investigated by Assistant Police Inspector Pramod Nalwade under the guidance of Pune Police Commissioner Amitabh Gupta, Deputy Commissioner of Police for Economic and Crime Branch Bhagyashree Navtake.