Pune: Private Insurance Manager Falls Victim to Rs 1.19 Crore Investment Scam

Baner, 14th December 2024: A case of financial fraud has come to light in which a manager of a private insurance company was cheated of Rs 1.19 crore under the pretext of an investment opportunity. The Baner police have registered a case against three individuals in connection with the incident.

The accused have been identified as Shivaji Gajanan Shinde (39, residing at DSK Vidyanagar, Pashan-Soos Road), Madhura Rohan Nandurgi (35, residing at Wakad), and Ravindra Naidu (37). The complaint was filed by the victim, who works as a manager at a private insurance company, at the Baner police station.

According to the police, the complainant and Shinde were acquaintances from the same hometown. Shinde, who runs a company called SCRIPSICA ACADEMIC SERVICES OPC in the Pashan area, approached the complainant with an investment proposal. In 2021, Shinde invited the complainant to his office, where his colleagues Nandurgi and Naidu were present. During the meeting, Shinde presented lucrative investment plans, promising substantial returns.

Convinced by the proposal, the complainant withdrew money from his own account as well as from his relatives, and handed it over to Shinde for investment. Initially, Shinde provided some returns, which encouraged the complainant to invest further. However, after some time, Shinde stopped giving any returns and became evasive when questioned about the money.

When the complainant asked Shinde about the investment, Shinde appointed him as a director of the company. Soon after, he shut down the company’s office, and when the complainant continued to inquire about his invested money, Shinde gave vague responses. The complainant alleges that Shinde even threatened him, claiming to have connections with political leaders and police officers. When the complainant persisted in demanding his money back, Shinde reportedly threatened to implicate him in a false crime and even threatened to commit suicide.

The Baner police are currently investigating the case under the guidance of Senior Police Inspector Mahesh Bolkotgi.