At least 25 persons were cheated to the tune of Rs 2.18 crore by a Pune-based company, which promised them regular interest and high returns on investment in equities. Advertising A First Information Report in this regard has been registered at the Shivajinagar police station by a 37-year-old resident of Bopodi. Based on the complaint, the police have booked the proprietor of the firm, who had an office on Fergusson College Road that has shut down. As per the FIR, the company approached individual investors in 2017 and accepted investments ranging from Rs 4 lakh to Rs 20 lakh. The company promised investors 7 per cent interest and said the returns on their investment in market equities will be deposited directly in their accounts. “The company, named Vestirika and Mangalmay Investment, had signed agreements with the investors on stamp papers. Some of the investors received some amount from the company, but then the payments stopped. The investors, most of whom are either businesspersons or work in the private sector, pursued the matter with the proprietor but after a while, the company stopped responding. Their office was also closed down. The affected people then approached the police,” said Sub-inspector S M Chavan of Shivajinagar police station, who is probing the case. PSI Chavan added, “We have identified the proprietor of the company and have launched a search for him. The total investments of the 25 persons who have approached us till now is Rs 2.18 crore. If more people approach us, we will include their names.”

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