Sell fraudster’s property, return our money: Investors

Nagpur: After being defrauded by Haribhau Manchalwar and his wife, aggrieved investors have approached Nagpur bench of Bombay High Court saying that property of the fraudster should be sold and money returned to them.
A division bench comprising justices Sunil Shukre and Shreeram Modak issued notices to the respondents, including city collector and others, asking them to file a reply within two weeks.

Aruna Khadangale and other aggrieved petitioners, who felled pray to Ponzi schemes floated by the Manchalwar couple, informed that they had duped about 492 investors to the tune of Rs17.98 crore. Ever since the scam came to light in 2015, Manchalwar is absconding.

The Nagpur police had filed a charge sheet against the couple on June 3, 2017. Earlier, Kotwali police station registered an offence against Manchalwar in June 2011 for defrauding hundreds of investors to the tune of more than Rs 17.38 crore by luring them with lucrative returns by investing into Ponzi schemes floated by him. Later, the crime branch took over the probe from Kotwali police.

On March 20-15, the special officer deputed by the collector attached Manchalwar’s 11 immovable properties as per the notification by the state home department under provisions of Maharashtra Protection of Interests of Depositor’s (MPID) Act. Several financial documents, cash, valuables and other records of the scamster, who duped many, have also been seized.