NAGPUR: After a month’s delay, the police on Tuesday, arrested Shreesurya Group chairman Sameer Joshi for allegedly duping hundreds of investors of crores of rupees. On Wednesday, the vacation court of Judicial Magistrate First Class (JMFC) Gopal Agrawal remanded Joshi to police custody remand (PCR) till October 21 following a demand made by Crime Branch’s Economic Offences Wing (EOW) probing the scam.
EOW sleuths picked up Joshi from his Sitabuldi home late in the night charging him under Sections 420 (Cheating with forgery) and 406 (Criminal Breach of Trust) of IPC and Section 3 of Maharashtra Protection of Investors Deposit Act, 1999. The application filed by EOW asked for a week’s custody with a view to interrogate him on where he had parked the money.
According to cops, 5,092 investors had deposited funds in his various schemes and 239 had came forward to lodge a complaint. Police were claiming that total estimate of the fraud was around Rs 100 crore, these 239 investors had collectively parked Rs 20.50 crore.
EOW officials headed by investigating officer Vishnu Bhoye sought seven days custody for Joshi saying they want to investigate whether the kingpin had other partners in the group and how many properties and vehicles he had purchased during the seven years of Shreesurya Group’s operations. They also wanted to seek information on whether Joshi had taken loans from banks and about other investments made by him.