Pune: Frauds are increasing in Pune in the name of trading in the share market. A 48-year-old woman in Hadapsar area was cheated of Rs 5 lakh by promising that she would get 18 to 20 percent return if she invests in the stock market. This incident took place between November 11, 2020 and October 2023 at the woman’s house in Hadapsar.
In this regard, Urvi Brijesh Shah (48) a resident of Amanora Park Town in Hadapsar has filed a complaint in the Hadapsar Police Station. In this case, a case under IPC sections 406, 407, 420, 426 and 427 has been registered against Hemal Chandrakant Shah a resident of Nirmal Mahal at Bomanji Petit Road in Mumbai).
According to the police, “The accused Hemal Shah gained the trust of the plaintiff Urvi Shah and asked her to invest in the stock market by luring her 18-20 percent. Accordingly, the plaintiff paid Rs 5 lakh to the accused online. But without paying the returns and compensation the accused cheated the complainant. When the complainant realised that she had been cheated she approached the court. According to the order of the court, the Hadapsar police have registered a case of fraud against the woman Hemal Shah.”
Police are conducting further investigation.
