Wanted in 45 cheating cases, fraudster has a new scheme with
'lucrative returns'
Ravindra Deshmukh, who is wanted in 45 cheating cases and is the kingpin of the muti-crore Aryarup Travel and Club Resort (ATCR) fraud, has yet again come up with an investment scheme. He is urging people to invest money in his scheme promising lucrative returns.
The state criminal investigation department (CID) which is probing the ATCR cheating cases, has found that Deshmukh has recently started a new website called ‘dawn2u.com’. On the website, he has promised to give 30 per cent extra returns within three months for any investment.
CID came to know about the new scheme during the interrogation of Pundalik Ingale, who had been a close aide of Deshmukh and worked as his agent for the last couple of years.
Speaking to dna, director general police (CID) Prakash Mutiyal said, “During our investigations, we arrested Ingale. He told us that Deshmukh has come up with a new scheme. In order to spread a word about the scheme, Deshmukh has been using his ATCR agents. We immediately issued a circular to all police commissionerates and rural headquarters in the state to create awareness amongst the people so that people will not fall prey to such fraud schemes in future,” Mutiyal added.
CID officials say that Deshmukh meets people on video conferences and convinces them about the “usefulness” of the scheme. His active agents also hold meetings in Pune, Dhule, Kolhapur and Karad in recent past. Mutiyal has confirmed that CID has not got any single case about new scheme.
What is ATCR scam?
Ravindra and his wife Vasuda had floated several schemes in Gujarat, Haryana, Jaipur, Bangalore and Maharashtra. Investors were promised annual returns of 86% to 96% if they put in Rs5,000 and more in the schemes. Investors who brought in others were promised additional returns. The company had opened accounts of its investors on its website. According to the CID records, 45 such cases have been registered in different parts of the state against Deshmukh.
Who is Ravindra Deshmukh?
Ravindra was born in Khatav taluka in Satara district. Initially, he had started fraud private advertisement firm Image. He used to invite politicians for his company’s parties. At that time he had taken photos with politicians and had collected them. In 2007, Ravindra had opened ATCR in Mumbai and later opened its branches in different parts of the country.
Appeal to people
The top brass of state CID have urged people not to fall prey to such fraud investment schemes. They have requested people to check the registration of the company, business, functioning and scheme documents before dealing with it.
DGP Prakash Mutiyal said, ”The fraudsters are using same modus operandi while doing such business. They start interesting schemes which convince you can that you can get handsome returns in the form of extra interest. The fraudsters initially ask for small investments and give returns on time. Once the investor is hooked, they ask for more investment in their scheme. The investor puts more money in the scheme. Here too, they give returns in the initial period, but later they stop paying back citing various issues.”
”Before investing a single penny in any private scheme, people should check the documents of the firm, scheme and its authensity. if someone is promising handsome returns than the standard rate of national banks, then you should ask how it is possible. If one is alert such things would not happen,” Mutiyal added.
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