Pune: TikTok Maulana And Accomplices Cheat Investors Out of Rs. 1 Crore In Car Trading Scam
Kondhwa, 31st July 2024: Saad Motors, a car trading company based in Mitha Nagar, Kondhwa, has been booked in a major fraud case, allegedly cheating nine individuals out of Rs. 1.16 crore.
The complaint, filed by Nisar Babulal Sheikh (55), a resident of Chintamaninagar, Hadapsar, has led to the registration of an FIR at Kondhwa Police Station, Pune City Police.
According to the police, the accused include Rafiq Qalandar Khan (44), Sanobar alias Sauda Rafiq Khan (40), Isa Rafiq Khan (23), and TikTok Maulana alias Abdul Rasheed alias Miftahi Qalandar Khan (48), all residents of Bhagyodayanagar, Kondhwa Khurd. The fraudulent activities have reportedly been ongoing since 2020.
Saad Motors allegedly lured investors by promising lucrative returns per month on investments in their car-buying and selling business. Tempted by these attractive returns, the complainant, along with eight others—Aniket Gaikwad, Hamid Babulal Sheikh, Julekha Sameer Sheikh, Azim Rajubhai Mulani, Sandeep Badhe, Jehangir Pathan, Vishal Chavan, and Sameer Razzak Sheikh—collectively invested Rs. 1,16,93,500.
Despite the promises, the accused failed to return both the promised returns and the principal amount over the past four years. Frustrated and unable to recover their investments, the victims turned to the police for help.
A case has been registered under the Maharashtra Protection of Interest of Depositors (MPID) Act. Police Inspector Patil is leading the investigation.
