9 duped of Rs 1.20 crores on lure of investment in share market

Aurangabad, Feb 10:

Nine persons including a software engineer were duped of Rs 1.20 crores on the lure to get lucrative profit of around 8 to 15 percent on the investment in the share market in construction industry. The economic offense cell has registered a case against six persons of a same family at Jinsi police station on Tuesday night on the basis of the complaint lodged by the investors.

The accused have been identified as Khan Abdul Qadar Nusrat Illahi Khan, Navid Illahi, Ishrat Illahi Khan, Dr Asra Rabab Khan, Abdul Kadar Khan and Sujaat Illahi Khan (all residents of Jaswantpura, Central Octroi Naka area).

Complainant Mohammad Azhar Rahimuddin Qureshi (43, Kabadipura) is a software engineer. He was in search of an business opportunity. He met Abdul Kadar in 2019, who told him that his family runs a business by the name N K Multi-services to invest in share market and construction industry. He offered him partnership in the business and assured lucrative profit on investment. He also told that several people in the city including a cousin of the complainant have invested in this business. Hence, Azhar invested Rs 28 lakh in phases. Initially, Azhar got Rs 52,500 per month for the first two months and Rs 42,500 next month. However, they stopped giving returns to him after that and asked him to invest more.

Under the guidance of PI D S Shingare, API Amol Satodkar is further investigating the case.

The other investors who have been duped in the similar way by this family included Shafiudding Azizodding Qazi, Hasan Qadri, Syed Javed Syed Aziz, Mohammad Shahid Ahmed Siddique, Shaikh Akilodding Shaikh Salauddin, Shaikh Zahir Shaikh Nazir, Siddique Mushtaq Ahmed and Nabi Ahmed Shakil Ahmed. The accused have duped them of Rs 92 lakh and also threatened them that they not get a single rupee if they approach the police.