Pune : Fraudsters duped 24 individuals of Rs.14 Crores in turmeric farming investment scam
Pune:Â In a shocking revelation, a case of financial fraud has emerged, involving the duping of 24 unsuspecting individuals out of a staggering sum of Rs.14 crores. The fraudsters enticed their victims with the promise of hefty returns by investing in a turmeric production project employing advanced vertical farming technology.
As a 63-year-old farmer from Akola bravely stepped forward and lodged a complaint, a case was registered at the Chaturshringi police station, prompting the Economic Offenses Branch to take charge of the investigation.
The accused individuals have been identified as Prashant Zade from Ambernath, District Thane, along with Rohan Matale, Sandesh Ganpat Khamkar from Thane, Jayant Ramchandra Bandekar from Borivali West in Mumbai, and Kamlesh Mahadevrao Oze from Kalwa, District Thane. Additionally, the A.S. Agro and Aqua LLP company is also implicated in the case.
According to the police, the victims were lured into investing in the fraudulent turmeric production project, which claimed to utilize cutting-edge vertical farming technology, guaranteeing substantial returns. Under the guise of being a leading agricultural production company, the accused managed to swindle a staggering amount of Rs. 13.82 crore from the unsuspecting investors. Shockingly, neither the promised returns nor the principal amount was ever returned to the victims. It has been revealed that this fraudulent scheme has been ongoing since 2019.
The complainant, who had invested a significant sum of money in the project, grew suspicious and decided to inquire about its progress. However, the accused responded with dismissive answers, further raising doubts about the legitimacy of the investment opportunity.
During the course of the investigation, it has come to light that the accused individuals employed similar tactics to defraud 23 other businessmen and farmers. Each victim fell prey to the false promises of high returns through investment in the turmeric farming venture. The police are now intensifying their efforts to uncover the full extent of the fraud and bring the perpetrators to justice.
Ankush Chintamani, Police Inspector (Crime) at Chaturshrungi Police station said, “We have registered FIR against the accused in this case and case has been handed over to EOW for further investigation.”
