Wealth Planet Scam: CEO, Two Executives Get Two-Year Jail Term in Pune
Reported by Mubarak Ansari
Pune, 10th December 2025: A city court has sentenced three senior officials of Wealth Planet Company to two years’ rigorous imprisonment for cheating investors by promising high returns on foreign trading schemes. Each of the convicted officials has also been fined Rs 10,000. The verdict was delivered by Additional Sessions Judge D. R. Shetty.
Those convicted include CEO Abhijit Sanjay Kulkarni, 39, and team head Pragya Kulkarni, 47 — both residents of Narayan Peth and originally from Dhule — along with Chief Operations Officer Shweta Shridhar Natu, 34, a resident of Sawantwadi.
The case stems from a complaint filed by a Pashan-based housewife at the Deccan Police Station. According to the prosecution, between November 2018 and April 2019, the accused lured investors with assurances of earning 60 percent of the profits by putting money into a foreign trading venture run by the company.
Trusting these promises, the complainants collectively deposited Rs 48,91,850 into the company’s bank account. However, despite repeated requests, the accused failed to provide investment certificates. When the complainants demanded their money back, the accused issued cheques of varying amounts that later bounced due to insufficient funds.
Realising they had been defrauded, the complainants approached the police. Investigators subsequently arrested the accused and filed a charge sheet. During the trial, public prosecutor Kundlik Chaure examined four witnesses on behalf of the state.
After the case was registered, the accused returned Rs 1,62,000 to the complainant, while the remaining Rs 47,29,850 was deposited in court for disbursal. Despite this, the court held the trio guilty of criminal breach of trust and violations under the Maharashtra Protection of Interest of Depositors (MPID) Act.
