Mumbai: Broker Accused of Abetment to Suicide After Investor Attempts to End Life Over Financial Loss

In a shocking twist to a case involving financial fraud and a suicide attempt, Bhandup police have registered a case of abetment to suicide against a broker named Jay Ghugal, who allegedly duped a head-load worker (mathadi) of Rs 23 lakh in the share market. The case was registered based on a complaint filed by the wife of the victim, Manoj Bhosale.

According to the complaint, it has also been alleged that the pistol used by Manoj Bhosale for the suicide attempt was supplied by none other than the accused broker, Ghugal himself. The police have launched a manhunt to trace the absconding accused.

Manoj Bhosale (38), a resident of MHADA Colony in Subhash Nagar, Bhandup (West), lives with his wife Shubhangi and their child. Employed as a mathadi worker in Thane and Kalwa areas, Bhosale became acquainted with Jay Ghugal, who lived in the same building.

Ghugal lured Bhosale into investing in the share market by promising returns of 10 to 15 per cent interest. Falling for the trap, Bhosale invested a total of Rs 23 lakh — which included Rs 14 lakh of his own savings, Rs 5 lakh from his brother, and Rs 4 lakh from his mother.

Although Ghugal initially paid interest for a few months, he eventually stopped returning both the interest and the principal amount. Bhosale later learned that Ghugal had allegedly cheated several other residents in a similar manner. Around six months ago, Ghugal absconded from his residence, leaving several investors in distress. Following this, Manoj, along with other victims, filed a complaint at Bhandup Police Station. However, the mental strain pushed Manoj into deep depression.

On April 16, Bhosale, who had left for work, failed to return home even late at night. During this time, he sent several audio and video clips to his wife, hinting at his suicidal intentions. Based on the video clips, his family located him holding a pistol, apparently preparing to end his life. They tried to convince him to return home, and while he reluctantly agreed, the situation took a tragic turn.

At around 4:30 am, while returning home through the staircase, Bhosale suddenly ran back and shot himself. Alerted by the family, Bhandup police rushed to the spot and immediately shifted him to a private hospital, where he is currently undergoing treatment.

During the investigation, Shubhangi Bhosale informed the police that the pistol used by her husband was given to him by Ghugal before he absconded. However, she added that she was unaware of where her husband had been keeping the firearm.

Meanwhile, police investigations have revealed that the accused Ghugal has likely fled to Gujarat. Efforts are on to trace and apprehend him.