Forex Trading: Promise Of High Returns Turns Into Rs 5 Crore Fraud In Pune

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Pune, 9th November 2023: A massive fraud of Rs 5 crore 12 lakh 10 thousand has been unearthed in Pune, where a group of individuals lured people into investing in international currency trading with the promise of exorbitant returns.

The scam took place at Season Worlds, a company located in Bibvewadi, between February 13, 2023, and the present day.

A case has been registered at the Sahakarnagar Police Station against Yogesh Kadam, the owner of Season Worlds, and his employees Tushar More, Vishal Haldankar, Digvijay Singh, and Abhishek. The complaint was filed by Dilip Govind Naik (67), resident of Mukund Nagar.

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Naik was approached by the accused and enticed to invest in their company, Season Worlds. They promised lucrative returns of ten to fourteen percent per month through forex trading. Convinced by their claims, Naik invested a substantial sum of Rs 2 crore 20 lakh rupees.
However, after April 2023, despite repeated demands, Naik was not refunded any amount. He received a mere Rs 2 lakh 80 thousand as a partial refund, while the rest of his investment, along with the promised returns, was withheld.

Upon further investigation, it came to light that Naik’s colleagues Umesh Ulvi and Prakash Sharma were also duped in a similar manner, with a total loss of Rs 5 crore 12 lakh 10 thousand.

The Sahakarnagar police are currently investigating the matter and are in the process of gathering evidence.