Pune: A shocking case has come to light where 16 people were defrauded of nearly ₹2.75 crore under the pretext of making profits from the share market. Samarth Police have registered a case against two individuals in this matter.
The accused have been identified as Prabhakar Madhukar Nehete (age 61, resident of Manajinagar, Narhe) and Sheetal Kale (age 40, resident of Pimple Saudagar). A complaint in this regard was filed by Vidya Vijayendra Manurkar (age 50, resident of Bhavanipeth) at the Samarth Police Station.
According to the police, the accused pretended to be sub-brokers of a company listed in the share market. They lured the complainant and 15 others into investing by promising high returns. They also created and documented formal agreements. After collecting money from all 16 investors, they failed to deliver any returns and cheated them of a total sum of ₹2,79,38,000. This fraud occurred between the years 2020 and May 2025.
Upon realizing the deception, Manurkar approached the police. Based on the complaint, Samarth Police registered a case under the Indian Penal Code and the Maharashtra Protection of Interest of Depositors (MPID) Act.
Assistant Police Inspector Patil is investigating the case.
