Pune: Businessman Cheated of Rs 50 Lakh in Share Market Scam in Hinjawadi
Hinjawadi, 18th October 2024: A businessman was duped of Rs 50 lakh through a promise of high returns in the share market. The incident occurred in the Hinjawadi area during August and September this year, leading the 33-year-old businessman to file a complaint with Hinjawadi Police Station. Based on the complaint, a case has been registered against Chinmya Reddy, a Kotak Community Manager, a Kotak Relation Manager, and the admin of a WhatsApp group named KSL Research, as well as a VIPCCP application called KSL Kotak.
The charges include BNS Sections 316(2) (criminal breach of trust), 318(4) (cheating) and 3(5) (acts done by several individuals in furtherance of common intention), along with relevant sections of the Information Technology Act of 2000. According to the police, the complainant had downloaded an application called KSL Kotak on his mobile phone. The accused, in collusion, persuaded the complainant to invest the amount in share market trading. The complainant invested Rs 49 lakh 10 thousand, but the accused allegedly cheated him by blocking the account and not returning the investment. Police Sub-Inspector Kiran Shinde from Hinjawadi Police Station is investigating the matter further.
