PUNE: The Deccan Gymkhana police arrested the CEO of a wealth management company from Rajgurunagar on Pune–Nasik highway on Friday night in a cheating case.
A woman office bearer of the company was also arrested.
Police were searching for the CEO, his wife and three others on the charge of cheating depositors of Rs 31.92 crore since 2018 by promising handsome returns of 270% for six months’ investment.
A team headed by senior inspector Muralidhar Karpe, assistant inspector Shilpa Lambe, police constables Sachin Inamdar, Pravin Kanchan, and Balasaheb Bhongle arrested CEO Abhijit Sanjay Kulkarni (34) of Law College Road.
He had recently shifted base to Narayan Peth.
The team also arrested a 30-year-old woman office bearer of the company.
“Kulkarni had fled to Delhi after the offence was registered on May 26 this year,” Karpe said.
According to the FIR, the firm had promised interest at 270% for six months’ investment, claiming that it was utilising the funds in stocks, bullion and commodity markets.
Six depositors, including a 51-year-old owner of two small scale industrial units in Chakan, who had invested Rs 2 crore, filed complaints with the police.
The other complainants are into realty, garments and other business.
Police have invoked provisions under Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (MPID) Act, besides applying the IPC section for criminal breach of trust against the CEO and four others.
Police said, “The CEO’s wife is a team leader in the firm.
All the five persons are on the run and the police are searching for them.
In 2019, Kulkarni was arrested for cheating people to the tune of Rs 65 lakh in a similar fashion.”
Pune: Wealth management firm CEO held in cheating case
