Complaint against Sachin zendhe of amrith Developers
Shivaji Park police on Monday arrested the director of a private investment company for allegedly cheating 95 investors to the tune of Rs16.57 lakh by promising to double their investment in 45 days.
“Sachin Zende, 28, director of Armit Infrocom Pvt. Ltd situated at Dadar, was arrested from his residence at Navi Mumbai and was remanded in police custody till December 18 by the metropolitan magistrate’s court at Dadar, ” said assistant police inspector (API) Sunil Kale of Shivaji Park police station.
Zende, a science graduate from Mumbai University, floated the company in January. He rented a office space in Luis Apartment near Portuguese church, and then placed advertisements in two city English papers with the claim ‘invest Rs5, 000 and get Rs10, 000 back in 45 days’. People’s greed to make a fast buck led to many from Mumbai and Navi Mumbai investing in the scheme.
During investigation, police found that Zende had opened current accounts in three banks in Mumbai, of which the one at the Lower Parel branch of Corporation Bank reflected a balance of Rs8.61 lakh. All the three accounts have been sealed, added Kale.
The racket came to light when head constable Navnath Gawde, while patrolling the Portuguese Church area on December 12, suspected foul play on noticing the signboard of Zende’s investment company. He then covertly collected information about the firm and learnt that it had been set up without RBI approval, and was a front to dupe people. He then lodged a complaint of cheating against Zende and his company.
API Kale then appealed to the victims to lodge a complaint against Zende at Shivaji Park police station. Interestingly however, nobody has yet come forward, despite Zende confessing to the crime, said Kale.