Bhosari Man Cheated of Rs. 32.30 Lakh in Stock Market Investment Fraud

Two booked for allegedly promising 2.5% monthly returns

Pimpri Chinchwad : A 42-year-old man from Bhosari was allegedly cheated of Rs/ 32.30 lakh after investing Rs. 35 lakh on the promise of earning 2.5% monthly returns through the stock market. Bhosari police have registered a case against two persons for allegedly failing to return the remaining amount after repaying only Rs. 2.70 lakh.

The complainant, Nitin Nivrutti Adhalrao (42), an employee residing at Yash Avenue in Indrayani Nagar, Bhosari, lodged a complaint with the Bhosari police station.

The accused have been identified as Amit Bhalchandra Thakare (45), a resident of Purva Heights, Pashan, Pune, and Amit Girish Narkhede (35), a resident of V-Uptown in Kiwale, Ravet, whose original address is in the Baner-Balewadi area of Pune.

According to the police complaint, the alleged offence took place between February 23, 2021, and October 21, 2026, at the complainant’s residence in Indrayani Nagar. The accused allegedly persuaded him to invest Rs. 35 lakh in the stock market by promising monthly returns of 2.5%.

The complainant alleged that the accused stopped paying returns after February 2024. When he subsequently demanded the return of his principal investment, they allegedly repaid only Rs. 2.70 lakh and failed to return the remaining Rs. 32.30 lakh.

The complaint further alleges that the money was used for the accused persons’ own benefit, resulting in financial loss to the investor.

Bhosari police have registered a case and are conducting further investigation.