Pune: Retired Senior Police Officer Cheated of Rs 1.55 Crore In Investment Scam

Pune, 12th September 2023: A retired senior police officer fell victim to a financial scam, losing a staggering sum of Rs 1.55 crore. The Chatushringi police have registered a case against five individuals involved in the fraudulent scheme.

The accused parties have been identified as Rajesh Vasantrao Karande (75 years old), Lina Rajesh Karande, Aparna Nilesh Karande, and Lata Vasantrao Karande, all residents of Shivajinagar. The retired senior police officer, whose identity has not been disclosed, filed a formal complaint with the Chatushringi police station, leading to the initiation of the investigation.

As per the police report, the retired police officer was lured into investing in the Kas Footwear Private Limited Company six years ago by the accused. Over the years, the complainant officer transferred a total of Rs 1.55 crore to the accused as part of the investment scheme. The accused had issued share certificates in the company’s name and entered into a formal agreement with the victim. However, they eventually breached the contract, resulting in the substantial financial loss incurred by the retired police officer.

Assistant Police Inspector Jankar is currently spearheading the investigation into this case. The authorities are committed to bringing the culprits to justice and recovering the defrauded funds.