Lokmat News Network
Chhatrapati Sambhajinagar:
Amid the much-talked Mumbai’s Torres scam, the Gujarat-based Quick Start 24 Group company (Enlife Capsure LLP Co.) lured investors by promising a 3 per cent monthly return and swindled Rs 35 crore from 1,500 investors. The company then locked its office and its directors absconded. Many investors from Marathwada have invested lakhs in this scheme, and police officers have indicated that the total amount could exceed Rs 50 crore.
The company directors Harshal Yogesh Gandhi and Pratik M Shah (both residents of Ahmedabad), along with branch managers Sheetal Sudhakar Motinge and Vithal Bhagaji Tandale, have been charged in this case at the Jinsi Police Station. Maharashtra Jeevan Pradhikaran’s (MJP) retired deputy engineer, Sartaj Singh Chahal, through his friend Vinod Sant, came to know about the company. Accused Sheetal and Vithal gained his trust, like others, by showing him large investments from other people.
Subsequently, Chahal invested Rs. 33.5 lakh in the names of family members. The company made a false agreement with him. For six months, he and other investors received a monthly return of Rs 3,000. However, after that, payments stopped, which caused anxiety among the investors. Meanwhile, the company's main office also shut down, and Sheetal and Vitthal stopped responding. After Chahal filed a complaint with the police, a case was registered. Police Inspector (PI) Sambhaji Pawar and Assistant Police Inspector (API) Mohsin Syed of the Economic Offences Wing (EoW) arrested Sheetal and Vithal. When produced in the court, they were awarded police custody remand (PCR) until January 23.
3% Return, Foreign Trips, and Much More…
--The company lured investors by promising to invest their money in 24 renowned companies and share the profits with them.
--This is the first crime of the company in the state.
--Three years ago, when the company was setting up its operations, it held a seminar at a luxury hotel. Both Shah and Gandhi personally participated in it. Offices were also set up in Nagpur and other cities.
--Along with returns, investors were promised free foreign trips and various other incentives.
Managers on commission
Sheetal and Vithal received a special commission on each investor in addition to their salary. Sheetal managed to bring in 800 investors, while Vithal brought in 700. However, directors Gandhi and Shah have been absconding for the past five months.