Pune: Motivational Speaker and His Team Accused of Scamming 40 Investors of Rs 3.5 Crore
Pune, 14th May 2025: A motivational speaker and the Chairman and Managing Director (CMD) of a city-based business group, along with three of his associates, have been accused of defrauding 40 investors of Rs 3.5 crore between January 2022 and January 2024. The Bund Garden police have registered a case, and the investigation is now being handled by the Economic Offences Wing (EOW).
According to the police, the suspects promised investors substantial returns on their investments but failed to deliver on their commitments. The victims, from diverse backgrounds, had invested amounts ranging from Rs 5 lakh to Rs 10 lakh in the business group, which operated from a commercial complex near Pune’s railway station.
The accused group is led by Kush Chaturvedi, CMD of Aatmnirbhar Koncepts India Pvt. Ltd, with the other three involved members working alongside him. The police have confirmed that the four suspects are currently on the run.
A 42-year-old software engineer from Yerawada lodged a complaint, and authorities revealed that most of the affected investors are professionals, including software engineers and employees of a prominent engineering conglomerate in Pune and Pimpri Chinchwad.
Assistant Inspector Sagar Janrao from the EOW said, “The CMD was well-known for conducting motivational seminars and lectures. During these sessions, he would encourage attendees to invest in his courses and other business activities, promising returns of 8% to 10% within a year. However, once the investment term ended, the suspects failed to meet their promises.”
The police have filed charges of cheating and criminal breach of trust under the Maharashtra Protection of Interest of Depositors Act against the four suspects. “Until last year, the speaker and his team continued to reassure investors that returns would be paid. But around two months ago, they closed their office and disappeared. Victims came to us after finding the office locked and have since reported the issue,” Janrao added.
One of the victims, a 42-year-old resident of Bhosari, explained, “A colleague from my engineering company told me about the investment opportunities in 2022, so I attended one of the speaker’s seminars. He and his team promised substantial returns on the courses I would invest in. I invested Rs 6 lakh, and for three months, I received returns. However, the payments stopped suddenly. Every time I followed up, they assured me my initial investment would be refunded with interest. I’m in shock to find that they have vanished.”
The EOW is continuing its investigation and is actively searching for the suspects.
