The Hadapsar police have arrested a 31-year-old man for allegedly duping 15 investors from Pune city and rural outskirts to the tune of Rs1 crore under the garb of providing consultancy in the share market.
Nitin Rajaram Narke (31) of Talegaon Dhamdare in Taluka Shirur was wanted by Hadapsar, Loni Kalbhor and Shikrapur police stations. Builder Vikas Baburao Sonkamble (25) of Taliwala Road area lodged a police complaint at Hadapsar police station on May 15.
Sub-inspector and investigating officer Dattatray Madane said, “An arts postgraduate, Narke set up Blue Chip Corporation Private Limited share brokering company in 2008 in Magarpatta. He is alleged to have duped Sonkamble to the tune of Rs6.75 lakh and cheated 14 other investors.
"He would give business proposals promising 10% interest per month on investments. He would target senior citizens, farmers and builders. Initially he gave returns, but then the flow of money stopped.”
Madane said, “Narke was on the run and had also changed his cellphone. On receiving a tip-off on Monday that he will be coming to Magarpatta, we laid a trap and arrested him.”
On Tuesday, Narke was produced before the court of judicial magistrate (first class) Jyoti Kotnis who remanded him in police custody till Thursday.
Assistant public prosecutor BR Patil said that Narke’s several bank accounts need to be scrutinised. Defence lawyer Amol Dange said that even as the case falls under the ambit of civil law, it had been filed under criminal law to extract money from Narke.
