Pune : Deccan Express – Pune Crime | Police arrested Kaustubh Arvind Marathe and Manjiri Kaustubh Marathe of Marathe Jewelers for defrauding investors of cash (Pune Crime) invested in various schemes, deposits invested in gold and silver under the guise of offering good returns and crores of rupees without paying them back.
Both have been arrested since appearing in Special Sessions Court on Monday (September 13). Earlier, police arrested Pranav Milind Marathe (age 26, resident of Rupali Apartment, Erandwane) and he is currently in judicial custody. A case has been registered against deceased Milind alias Balwant Arvind Marathe, Nina Milind Marathe and others at Kothrud Police Station. Shubhangi Vishnu Kute (age 59, resident of Kothrud) has filed a complaint against him. The incident took place between January 14, 2017 and January 2021 at Pranab Marathe Jewelers’ Lakshmi Road and Paud Road branches.
A total of 18 investors, including the plaintiffs, were made to invest cash, gold, silver, etc. in various schemes of Pranav Jewelers and a total of 18 investors, including the plaintiffs, were defrauded of Rs 5 crore 9 lakh 72 thousand 970, the police investigation revealed. The case was registered on March 21, 2021.
The money invested by the witness along with the plaintiff, gold and silver were deposited in the Maratha Jewelers, the accused partner, and the accused did not provide information about the annual financial statements of the partnership organization, as well as other documents. Defendants have given their receipts to witnesses and others for the investment, as well as to check the exact computer in which the investor’s data is kept, the depositors have been given deposit receipts in their own handwriting regarding acceptance of deposits from investors. The signature proof is to be obtained by taking the signature samples of the accused regarding the signature on that receipt.
If the accused is granted bail, they are likely to leave the country and intimidate witnesses. Marathe Jewelers Pvt Ltd is also accused of embezzling stock amount of Cosmos Bank and the accused are to be questioned in this regard. Therefore, Assistant Public Prosecutor MB Wadekar demanded that the accused be given 12 days police custody. The court has remanded them in police custody till September 18.