Pune News : Many investors cheated of more than ₹100 crore; Money sent abroad through hawala

PUNE: NpNews24 Online – Pune News | The ED has registered an FIR of cheating against self-styled businessman Vinod Khute and four others for luring thousands of investors to invest money in various schemes of VIPS Group of Company at the Bharati Vidyapeeth police station. The accused promised returns of 2 to 3 per cent and cheated investors of more than ₹100 crore and sent this money abroad through hawala. (Pune News)

The Assistant Director of ED, Ratnesh Kumar Bhuvaneswarlal Karn (43), lodged a complaint at the Bharati Vidyapeeth police station on October 9 (Monday). Accordingly, an FIR has been registered against Vinod Tukaram Khute, Santosh Tukaram Khute, Mangesh Khute, Kiran Pitambar Anarase, Ajinkya Baddhe and their other aides under sections 420, 471, 34 and 120 B of the IPC. The incident took place from 2020 to October 2023.

According to the police, the accused lured investors by offering a return of 2 to 3 per cent per month through VIPS Group of Company and Global Affiliate Business. The accused operated a Ponzi scheme and instead of depositing the money in the company’s bank account, put it in fake accounts. They promised to pay commission and asked many people to invest money in various schemes of the company.

The accused, Vinod Khute, with the help of his accomplices started Kana Capital Company for doing forex trading. He organised online training programmes through Zoom. He set up various shell companies by promising good returns in forex trading. Later, he closed Kana Capital Company.

An investigation carried out by the ED has revealed that the funds received were sent outside the country through hawala. The accused have cheated many people of more than ₹100 crore. The EoW Pune city is carrying out further investigation.

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