MIDC Police have registered a case of fraud and criminal breach of trust after a businessman was duped of Rs 7.63 crore by a couple promising high returns on investments. The case has been handed over to the Economic Offence Wing (EoW) for further investigation. The victim, Jitendra Narhari Joshi (41), a resident of Trimurti Nagar, runs JMJ Apply and Stonefire company. In his complaint, Joshi stated that he had been introduced to the accused, Jayant Gulabrao Supare (43) and his wife Kesari (35), long-time friends, who offered him a lucrative investment opportunity in Voltum Powertech Company.

 

According to police, the accused promised a 35 per cent annual return on investments, which initially materialised as promised. Encouraged by the returns, Joshi began investing more heavily between 2024 and June 2024. However, the couple abruptly stopped making any payments after mid-2024. When Joshi repeatedly contacted them for the promised returns, the couple ceased all communication. Joshi has filed a complaint with MIDC Police, who have booked the accused under Sections 420 (cheating), 409 (criminal breach of trust), and 34 (acts done by several persons in furtherance of common intention) of the Indian Penal Code.