EOW arrests CMD cheating 17 investors of Rs 12 lakh

Aurangabad, Aug 19:

The economic offence wing (EOW) has arrested the main accused Satish Shripat Tiwari (a resident of Grahimpur-Nasadpur in Sultanpur district of Madhya Pradesh), who was wanted in the case of cheating 17 investors for Rs 12.11 lakh. The investors against the investment in UTV Online Private Limited were assured of giving good returns in a minimum period.

According to complainant Tejaswini Sudhakar Gaikwad (38, Samarthnagar), the company's CMD Satish Tiwari, director Jagruti Desai (resident of Shelar Park, Khadkapada Chowk, in Kalyan- Thane), administrative officer Sunita Karmarkar (resident of Ambernath, in Kalyan-Thane), director Navalkishore Pande and commission agent Kamal Shrinivas (a resident of Kalyan-Thane) through seminars prompted her to invest Rs 1.72 lakh. They lured her of giving maximum returns in the minimum period of time but was given a return of only Rs 16,800 at one time. In this way, she has been cheated of Rs 1.57 lakh.

Kranti Chowk police station registered the case. Later on, the EOW during the investigation found that the company had cheated 17 investors for Rs 12.11 lakh. In the meantime, the local police came to know that the prime accused Tiwari had been arrested by police in connection with a case registered at Ulhasnagar and is cooling heels in Kalyan Jail. Hence the EOW squad went to Kalyan and arrested Tiwari. Under the guidance of assistant commissioner of police Ravindra Salokhe and police inspector Dadarao Singare, the API Amol Satodkar and his team comprising Yogesh Talwande, Sandeep Jadhav and Sanjay Jarwal took the action.

Meanwhile, the EOW has appealed to the investors to come forward and register their grievances if they had invested in the above company.