Sangli: A man in Maharashtra’s Sangli has allegedly been cheated of ₹23.56 lakh after being lured to invest in the share market with the promise of high returns. According to the complaint, the accused, Ashish Dadasaheb Anuse, 29, had received a total of ₹43 lakh from the victim for investment. While ₹19.43 lakh was later returned, the remaining ₹23,56,907 was allegedly not paid back. Vishrambag police have registered a case against Anuse and begun an investigation.
The complainant, Sunil Balasaheb Salgar, told police that Anuse had assured him that investing in the share market would generate substantial and attractive profits. Trusting the accused, Salgar provided money for investment as allegedly advised by him. According to the complaint, a total of ₹43 lakh was invested.
After receiving the investment amount, the accused reportedly returned part of the money to Salgar. A total of ₹19,43,093 was allegedly paid back. The partial repayment may initially have strengthened the impression that the investment arrangement was genuine and that the money would be returned. However, difficulties reportedly arose when Salgar sought repayment of the remaining amount.
Salgar has alleged that Anuse failed to return the outstanding ₹23,56,907 despite repeated requests. As the payment remained pending, he suspected that he had been deceived in the name of share market investment. He subsequently approached the police and lodged a complaint against the accused.
Vishrambag police have initiated an investigation based on the complaint. Investigators are expected to examine how the ₹43 lakh was transferred to the accused and how the money was subsequently used. Bank account records, transaction details and documents relating to the alleged investment are likely to form an important part of the investigation.
Another key aspect will be to determine how the accused persuaded the complainant to invest such a substantial amount. Investigators may examine messages, payment records and other communications exchanged between the two parties. These details could help establish the nature of the investment arrangement and the representations allegedly made to the victim regarding returns.
Cases involving investment fraud often involve promises of unusually high profits within a short period. In some cases, fraudsters initially return a portion of the money to build confidence before encouraging victims to invest larger amounts or preventing them from withdrawing their funds. Investigators may examine whether a similar pattern was followed in the Sangli case and under what circumstances the ₹19.43 lakh was returned.
Police will also examine whether Anuse allegedly encouraged only Salgar to invest or whether other people may have been approached through a similar arrangement. If additional transactions or complaints emerge during the investigation, the scope of the case could widen.
Investigators are also likely to establish whether the alleged investment involved any genuine stockbroker, trading platform or financial institution, or whether the entire arrangement was handled directly by the accused. Verification of banking records and available digital evidence could help establish the actual flow of funds and determine where the remaining money went.
The investigation will also focus on the circumstances surrounding the alleged non-payment of ₹23.56 lakh. Police are expected to examine the financial trail to determine whether the money was transferred to other accounts, withdrawn or used for other purposes.
For now, Vishrambag police are proceeding with the investigation based on the complaint filed against Ashish Dadasaheb Anuse. The allegations will have to be established through the investigation and subsequent legal proceedings.
The case also highlights the risks involved in handing over large sums of money based solely on assurances of high returns from share market investments. Investors should independently verify the identity and credentials of brokers, trading platforms and investment schemes before transferring substantial amounts. Claims of guaranteed or unusually high returns should be treated with particular caution.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
