https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

Maharashtra: Retired IPS Officer Duped of ₹50 Lakh in Dubai Investment Scam; Main Accused a Repeat Offender

The complaint was filed by Maruti Shankarrao Maheshgouri, a resident of Vishalnagar, Wakad, who alleged that two individuals - Rajeev Ashok Kendre, currently residing in Dubai, and Harshal Ashok Kulkarni, a resident of Kothrud - conned him by promising a monthly return of ₹4.5 lakh on his investment.
Indian Masterminds Stories

Pune: In a startling case of financial fraud, an 80-year-old retired IPS officer has alleged he was cheated out of ₹50 lakh after being lured into investing in a Dubai-based firm with promises of high monthly returns. The case, which also involves another victim who reportedly lost ₹1.5 crore, has been registered at the Deccan Police Station, prompting a full-scale investigation.

FIR Details

The complaint was filed by Maruti Shankarrao Maheshgouri, a resident of Vishalnagar, Wakad, who alleged that two individuals – Rajeev Ashok Kendre, currently residing in Dubai, and Harshal Ashok Kulkarni, a resident of Kothrud – conned him by promising a monthly return of ₹4.5 lakh on his investment.

From 2021 to 2023, Maheshgouri transferred ₹50 lakh to the accused, expecting regular payouts. However, no returns were received, and the funds were allegedly misappropriated by the duo.

Repeat Offender and Larger Scam

According to Senior Police Inspector Girisha Nimbalkar, investigations revealed that Rajeev Kendre is a repeat offender, with prior fraud cases registered against him at Wakad and Hinjewadi police stations. Police believe the scam may have wider ramifications, as a second investor has also claimed to be defrauded of ₹1.5 crore in a similar manner.

An investment fraud was committed under the pretext of offering a monthly return of ₹4.5 lakh on an investment of ₹50 lakh. So far, we have received complaints from two individuals. If anyone else has been defrauded by the accused in a similar manner, they are urged to contact the Deccan Police,” said Inspector Nimbalkar.

Legal Action Underway

A case has been filed under relevant sections of the Indian Penal Code (IPC) along with provisions of the Maharashtra Protection of Interests of Depositors (MPID) Act, which is specifically aimed at tackling financial frauds involving public investments.

The Deccan Police are actively pursuing leads and have appealed to the public to come forward if they have been similarly duped.

This case underscores the importance of financial vigilance, particularly among senior citizens and retired professionals, who are often targeted by scammers with promises of quick, high returns.


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
WCL Western Coalfield
WCL Secures First Commercial Coal Block: Vesting Order Issued for Dahegaon Makardhokra-IV Mine - Deatils Inside
REC Limited
REC Limited Incorporates New Subsidiary for Sonbhadra Power Transmission Project - Details Inside
MDL_Mazagaon_ltd
Result: Mazagon Dock (MDL) Posts ₹3,174 Cr Revenue in Q4FY25, Recommends ₹2.71 Final Dividend
hy30Prabhakar-rao
SC Allows Ex-Telangana Intel Chief T Prabhakar Rao to Return to India, Grants Interim Protection in Phone Tapping Case
indian-forest-service IFS Officers
Peenya Land Row: IFS Officer R Gokul Faces Suspension After Writing to CBI, Alleges Victimisation
CBI
CBI Arrests ED Deputy Director in ₹2 Crore Bribery Case in Odisha; Vigilance Nabs Engineer with ₹15 Lakh Unaccounted Cash
GRSE Hybrid
GRSE Lays Keel for 13 Hybrid Ferries to Power Bengal’s Green Waterways, Boosting Sustainable River Transport
SJVN
Result: SJVN Declares Final Dividend of ₹0.31 Despite Q4 Loss of ₹127.6 Cr in FY25 - Details Inside
ADVERTISEMENT
ADVERTISEMENT
Videos
IAS Tushar G Nikhare
Modernising Governance: A Digital Transformation in Gangtok
IMG-20250523-WA0036
Abhishek Singh's SECRET: Vipassana, Anthropology & Smart Answer Writing | Video Interview 
Madhav Agarwal UPSC
From Gwalior to the Top 20: What Drove Finance Pro Madhav Agarwal to Crack UPSC CSE 2024 with AIR 16? | Exclusive
ADVERTISEMENT
UPSC Stories
Jogender Sihag
“I Cleared UPSC, But My Grandfather isn’t Here to Hear it,” Jogender Sihag, AIR 521, UPSC CSE 2024
"Life is short; make the most of it, whether in civil service or any other field. Just have a clear vision...
WhatsApp Image 2025-05-28 at 18.56
Didn’t Clear UPSC But Found Something Greater: A Story That Will Change How You See Success
She left a top finance job for UPSC, did not clear but built a thriving wellness brand instead. Veda's...
Mayank Malviya IFS mENTOR
The Amazing Journey of a Failed IFS Aspirant-cum-Mentor Who Has Given More Than 130 Selections in Just 4 Years
From multiple UPSC failures to mentoring 130+ successful aspirants, Mayank Malviya’s Planet Geo empowers...
Social Media
parveen kaswan elephant
Elephant Outsmarts Electric Fence! IFS Parveen Kaswan Shares Incredible Video!
In the now-viral 51-second clip, the intelligent giant approaches a wooden pole supporting high-voltage...
UPSC Latest IAS IPS IFS
UPSC CSE Prelims 2025 Tomorrow: ICLS Officer Altap Shaikh Shares Last-Minute Motivation for Aspirants
His five-post thread offers encouragement, practical advice, and emotional support - not just for those...
Anupam Sharma IFS
#BoycottTurkey: IFS Officer Anupam Sharma Sparks Nationalist Call to Action
IFS Sharma urged citizens to avoid Turkish agricultural imports
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
WCL Western Coalfield
WCL Secures First Commercial Coal Block: Vesting Order Issued for Dahegaon Makardhokra-IV Mine - Deatils Inside
REC Limited
REC Limited Incorporates New Subsidiary for Sonbhadra Power Transmission Project - Details Inside
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
IAS Tushar G Nikhare
IMG-20250523-WA0036
Madhav Agarwal UPSC
ADVERTISEMENT
ADVERTISEMENT