By | Anil Borade | Crime News
Dhule: The Economic Offences Wing (EOW) of Dhule Police has arrested Satish Pandurang Patil, a teacher at a local Zilla Parishad school, for allegedly running a multi-crore investment scam through his company, Grow More Investment Pvt. Ltd. Patil promised farmers high returns on their investments, ranging from 7% to 25% per month, and assured them that their investment would double or triple in a year.
Patil, who had gained the trust of farmers in the Pimpalner area of Sakri taluka, convinced them to invest in his company. Many farmers invested large sums of money, including some who mortgaged their land, based on Patil’s promises of high returns. He accepted investments through RTGS and cash, issuing post-dated cheques as refunds. However, the refunds suddenly stopped, leaving the farmers to face significant financial losses.
A case has been registered against Patil under various sections of the Indian Penal Code and the Maharashtra Protection of Depositors Act. Police Sub-Inspector Savita Gawande is investigating the case, and further probe is being carried out by the Crime Branch. The police have also seized Patil’s four-wheeler as part of the investigation.
The scam has left many farmers in financial distress, with some even mortgaging their land to invest in Patil’s scheme. The incident has raised concerns about the vulnerability of rural communities to such investment scams and the need for greater awareness and protection. The police are working to uncover the full extent of the scam and bring those responsible to justice.
