Kolhapur : Lohit Singh Dharmasingh Subhedar (Rest. Palus, Dist. Sangli), who absconded after a case was registered for defrauding investors of about Rs. Economic Crime Investigation Branch of Kolhapur Police laid a trap and arrested him. There is a possibility that this fraud of thousands of crores of rupees will be unraveled as the leader is caught. The police had received information that he would come to Kolhapur district on Tuesday to have darshan of Ganpati. Accordingly, the police laid a trap and arrested him.
Fraud with the lure of extra returns
AS TRADERS Company did not return the crores of rupees invested to the investors with the lure of huge returns in a short period of time. As returns stopped from October 2022, investors rushed to the police. In November 2022, a case was registered against 27 directors and agents of AS Traders Company at Shahupuri Police Station. Since then, the head of the company and mastermind of the fraud, Lohit Singh Subedar, was on the run to avoid arrest. After the Supreme Court also rejected his pre-arrest bail application, he had informed the investors through an online meeting that he would be going to the police on his own. However, he was running away from the police.
Seven people have been arrested so far
7 accused including leader Lohit Singh Subhedar have been arrested. Suvarna Srirang Saranaik, (Rest. Hirashri Lake City, Bunglow No.6, Near Ambai Tank, Rankala, Kolhapur (Director) 2) Balaso Krishnat Dhangar (Age 55 Res. Galli No. 5, Babu Park, Bahirewadi Distt. Panhala District Kolhapur , Agent) 3) Babaso Bhupal Dhangar (Age 30, Res. Near Renuka Mandir, Dhangar Galli, M.P. Nelli Dist. Karveer, District Kolhapur (Director) 4) Amit Arun Shinde (Age 47, Res. Silver Glades Apartment, Flat No.WA/002, Beside Menon Bungalow, Near Lisha Hotel, Kolhapur (Agent) 5) Ashish Babasaheb Gawde (Age 40, Res. 905, Grand View 7, Phase 4, Ambegaon Budruk, Pune (Agent) 6) Shritika Vasantrao Savekar/ Pareet (Age 32, Res. Flat No. 403, Guruprasad Heights, Nagala Park, Kolhapur (Company Admin) 7) Sahebrao Subrao Shelke (Age 59, Res. Plot No. 26, Mahalakshmi Colony, Saneguruji Colony, Kolhapur Mul Gaon Mohal , District Solapur (Agent) has been arrested.
The process of confiscation of the material from the accused has started
In the investigation so far from the accused, a total of 6 flats purchased by accused Babaso Dhangar and accused Babu Krishna Hazare in Navi Mumbai city and 5 acres of land at Vandur sub-district Kagal, Ujalaiwadi, Mudshingi, K. A total of 3 plots, two two-wheeler properties near IT College are in process of confiscation. Accused Amit Shinde has 1 pant house, 1 flat at Kadamwadi Kolhapur, 12 guntha space at Padli, Palasambe. 8 acres of land at Gaganbawda, also four wheelers, two wheelers from Babaso Dhangar. Jewelery worth Rs 6 lakh belonging to Shrutika Savekar, jewelery worth Rs 25 lakh and diamonds worth Rs 2.5 lakh have been seized from the wife of Lohit Singh Subhedar.
Assets worth Rs 12 crore have been discovered since July and the process of confiscation is underway. Also, 3 crore 96 lakh rupees have been seized by seizing the bank accounts of AS Traders and its affiliated subsidiaries. This action was taken under the guidance of Police Mahendra Pandit, Deputy Superintendent of Police Suvarna Patki, Financial Crimes Branch, Police Inspector Swati Gaikwad of Financial Crimes Branch, Police Sub-Inspector Karande, Assistant Police Officer Warak, Undale, P.O. Havaldar Sawant, Pravin Chavan did it.
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