Unit I of the Navi Mumbai Police’s Economic Offences Wing has arrested four people for cheating over 80 people of ₹2 crore. While Abhijit Madhukar Patil (42), Vanita Abhijit Patil (40), and Mukund Ashok Puranik (39) are from Kamothe, Yogesh Rajaram Bilaye (48) is a resident of Kalamboli.
The police said the accused ran a multi-level marketing scheme via three investment companies — Vanita Enterprises, Trishul Gold Private Limited, and Trishulin Trading Private Limited — at Brahma Shopping Centre at Sector 15, Belapur. They promised to double the money deposited by investors within 20 months and offered 2% commission for bringing in more investors, police said.
They provided benefits to a few investors and later defaulted on the payments. “Over 80 investors have claimed to have been cheated of ₹2 crore,” said Deputy Commissioner of Police (Crime) Pravin Patil.
Mr. Patil, Mr. Puranik and Mr. Bilaye were arrested in the wee hours of January 19, while Ms. Patil was arrested the same afternoon. Mr. Bilaye posed as the manager of the firm, while the others claimed to be owners of the investment companies.
The accused were arrested under Sections 420, 409 and 34 of the Indian Penal Code; Sections 3,4, and 5 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978; and Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999. They have been remanded in police custody till January 25.
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