January 16, 2020
They returned last week and were arrested
The matter had come to light on 14 July 2014 when a KBC Multi Trade agent Sagar Popat Nikam (25), and his mother committed suicide by drinking poison due to alleged harassment by anxious investors. Earlier cases were registered against the company in Marathwada but investors in Nashik continued to with their business.
They returned last week and were arrested at the Mumbai Airport.. Considering the seriousness of the offence, the government decided to entrust the investigations to the Economic Offences Wing (EOW) of Nashik police.The company was able to fleece about Rs 210 crore from 7,500 investors.The Economic Offences Wing (EOW) on Wednesday recovered ornaments worth Rs 65 lakh from the bank lockers of directors of KBC Multi Trade and Resorts Pvt Ltd. Farmers from Chandwad Niphad and other drought prone areas had invested heavily in the company along with people from Aurangabad and Parbhani. The Economic Offences Wing (EOW) on Wednesday recovered ornaments worth Rs 65 lakh from the bank lockers of directors of KBC Multi Trade and Resorts Pvt Ltd. After the fraud was exposed in 2014, Chavan and his wife fled to Singapore. On Tuesday, the EOW had recovered gold coins worth Rs 2 crore, which the promoters possibly used to gift agents who made them good profits. They are presently in police custody.
The police has recovered property worth Rs 80 crore so far.Readers may recall that, in 2014 promotors Bhausaheb Chhabu Chavan and his wife Arti Bhausaheb Chavan allegedly lured greedy investors by promising triple returns in three years. The issue was also raised in Parliament by MP Kirit Somaiya in 2014. The scheme was first lapped up by the rural people and then by investors from the cities. China aluminum Household step ladder The police then raided the office on the basis of an anonymous letter
Posted by: aluminumhousehold at
03:17 AM
| No Comments
| Add Comment
Post contains 310 words, total size 2 kb.
10kb generated in CPU 0.0065, elapsed 0.0315 seconds.
33 queries taking 0.0267 seconds, 47 records returned.
Powered by Minx 1.1.6c-pink.
33 queries taking 0.0267 seconds, 47 records returned.
Powered by Minx 1.1.6c-pink.
