Family of postal agents dupes 1,700 depositors of Rs 20 crore

MUMBAI: The city EOW has arrested a senior citizen couple and their daughter for allegedly cheating over 1,700 depositors of more than Rs 20 crore in a postal investment scam. The trio, all authorised agents of Mahim post office, promised the depositors 102% returns on their investment in six years. Ramesh Bhatt, 68, his wife Yogita, 65, and their daughter, Bhumika Mohire, 39, were arrested on Friday.
“Bhatt was employed with a private firm till 2000 and later, became a post office agent. He would tell depositors their money would be “safe” in the post office. He has thousands of clients,” said an officer. “He would go door-to-door, meet the depositors, fill up their forms, take signature and deposit their money. Investors would not have to go personally to deposit the money,” said an officer.

“One of the victims, Asha Mandlik, 52, had given Bhatt Rs 26 lakh in 2009 to be invested for six years. A bank employee had deposited Rs 38 lakh in recurring deposit and MIS schemes through Bhatt. The accused would keep the clients’ passbooks with him. In many cases, he never deposited the money and in some cases, he deposited partial amounts. Some depositors got suspicious when they did not get their money after maturity. When they went to the post office, they were told there was less money or no deposits,” he said.