SANGLI: A major investment fraud case has surfaced in Maharashtra’s Sangli district, where six individuals have been booked for allegedly cheating an investor of ₹1.33 crore by promising attractive monthly returns through a private investment company. The case has drawn attention to the growing risks associated with unregulated investment schemes that lure investors with assurances of high and consistent profits.
According to the complaint filed with Vishrambag Police Station, the accused allegedly persuaded the victim to invest a substantial amount in a company operating under the name TWJ Associates Private Limited. The complainant claimed that he was assured a monthly return of 4% on the invested amount and was led to believe that the scheme was financially secure and capable of generating steady income.
The case was registered following a complaint lodged by Sudhir Dhondiram Chandure, a resident of Arg village in Sangli district. In his complaint, Chandure alleged that the accused collectively induced him to invest ₹1.33 crore in the company after repeatedly assuring him of lucrative returns and the safety of his investment.
Unregulated Scheme Offers High Payouts
Police records indicate that the accused include two individuals from Ratnagiri and four from Sangli who were associated with the operations and promotion of the investment venture. Investigators believe the company attracted investors by projecting itself as a profitable financial enterprise and by initially honouring return commitments made to some participants.
According to the complaint, the company had begun operations by offering investors a monthly return of 4%, a figure significantly higher than returns available through conventional banking and regulated financial products. The promise of such returns reportedly attracted multiple investors, including Chandure, who eventually committed more than ₹1 crore to the scheme.
The complainant alleged that during the early phase of the company’s operations, certain investors received returns as promised. This, he claimed, helped build credibility and encouraged further investments. Based on these assurances and the apparent success of the scheme, Chandure decided to invest a total of ₹1.33 crore.
Financial Default and Repayment Refusal
However, problems allegedly began to emerge in July 2021 when the promised returns stopped arriving. Chandure claimed that despite repeated requests and follow-ups, neither the returns nor the principal amount invested by him were repaid. As months passed without any resolution, he began suspecting that he had been defrauded.
The complaint further states that attempts to recover the money from the company and its representatives yielded no results. The investor ultimately approached law enforcement authorities, alleging that the accused had deliberately induced him to part with his money through false promises and misleading representations.
Based on the allegations, Vishrambag Police have registered a case against all six accused and initiated an investigation into the financial transactions linked to the company. Investigators are expected to examine company records, investment agreements, fund transfers, and communications exchanged between the accused and investors to determine the nature and extent of the alleged fraud.
Police Launch Investigation into Wider Scam
Authorities are also looking into whether other individuals may have invested money in the scheme under similar promises. Preliminary information suggests that multiple investors could have been affected, raising the possibility that the total amount involved may be significantly higher than the loss reported in the current complaint.
Financial fraud experts frequently caution that schemes offering unusually high and assured returns should be approached with extreme care, particularly when they operate outside established regulatory frameworks. Such schemes often rely on investor confidence generated through early payouts before repayment issues begin to surface.
The registration of the case marks the beginning of a detailed criminal investigation, and the allegations will now be examined through documentary evidence and witness statements. The accused have been booked on the basis of the complaint, and the matter remains under investigation.
With police probing the company’s operations and financial dealings, investigators are expected to determine whether the alleged fraud was limited to a single investor or formed part of a larger investment scam affecting multiple victims across the region. As the investigation progresses, authorities are likely to scrutinise the flow of funds and identify the full extent of losses suffered by investors.
