Pune: Man Cheated of Rs 25 Lakh on Promise of 350% Returns in Stock Market

Share this News:

Chikhali, 11th February 2024: An individual has fallen victim to a fraudulent scheme, losing Rs. 25 lakh 83 thousand after being promised a staggering 350% return on investment in the stock market. The deceit unfolded online between November 13, 2023, and January 1, 2024.

A complaint has been lodged by a 40-year-old resident of Chikhali, with the Chikhali Police Station. Subsequently, a case has been registered against the accused, identified as Amit Shah, along with an unnamed female accomplice.

According to police reports, the accused enticed the complainant to invest in the stock market, gaining their trust with promises of significant returns. Allegedly, the complainant was persuaded to invest an initial sum of Rs. 15 lakh 83 thousand through Roark Capital India, with assurances of a 350% profit. However, upon reaching out to withdraw the purported earnings, the plaintiff was instructed to deposit an additional Rs. 10 lakh. Despite complying, the complainant did not receive any returns or refunds, resulting in a total loss of Rs. 25 lakh 83 thousand.

The Chikhali police are investigating the matter further.