Pune: Businessman Loses Rs 99 Lakh In Share Market Fraud

Cyber Fraud
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Kharadi, 7th April 2023: A businessman from Kharadi was duped of Rs 99 lakh by Nitin Jagannath Gote, a resident of Bhivari in Haveli taluka, on the pretext of investing in the share market.

Harish Bakshani, the victim, filed a complaint with the Chandannagar Police, who have registered a case of fraud against Gote.

According to the police, Bakshani was approached by Gote in a coffee shop, where he was offered a monthly return of 10% on the amount he invested in trading. Tempted by the lucrative offer, Bakshani sold his house and deposited Rs 1 crore in a de-mat account of Motilal Oswal, as per the agreement. However, on March 31, 2022, when Bakshani checked the account, he found a loss of Rs 99,07,871. When Bakshani confronted Gote, he was told that the account was used for hedging and that the money was safe due to high profit on another account.

Gote paid Rs 10.5 lakh as percentage to Bakshani during the period, but no further payments were made. Bakshani alleged that Gote defrauded him by not returning the lost money and percentage as per the agreement.

Police Sub Inspector Goraksh Ghodke is investigating the matter, and further details are awaited.


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