Fake share broker dupes IAF man of Rs 41 lakh

May 08, 2012, 07:23 IST | Sandip Kolhatkar

A case has been booked at the Vishrantwadi police station yesterday against a person, who posed as chairman and managing director of a fictitious share broking firm and allegedly cheated an Air Force officer of Rs 41 lakh, under the pretext of hefty returns on investments.

Ankur alias Ankush Shrivastava was arrested in 2010 by the Kondhawa jurisdictional police for allegedly using the Indian emblem, a beacon and a Government of India signboard on his car and passing himself off as a member of the Prime MInister’s economic advisory council.

Con job: Suspect Ankush Shrivastava when he was arrested in 2010 for posing as a member of the PM’s economic advisory council. File/Pic

Squadron Leader Subhash Rathi (39) has registered a complaint at the Vishrantwadi police station against Srivastava, who posed as the CMD of a company located in Salunke Vihar, known as Trading India Pvt Ltd (TIPL).

Falling for the bait
Senior Police Inspector Motichand Rathod said that in 2009, the complainant responded to an advertisement placed by TIPL in an English daily and called up Shrivastava. The conman claimed to be CMD of the company and briefed the complainant about investment plans in the share market through his firm.
“The suspect then met the complainant and convinced him to invest in the share market through his firm. Later, the complainant gave the suspect documents to open a DEMAT account and also a cheque of Rs 1,000,” said Rathod.

Shrivastava told Rathi to make out a cheque in the name of Ankush, who was supposed to be the conman’s brother and looked after business. “Later, the complainant began investing through the firm. In order to gain the victim’s confidence, the suspect said that TIPL had earned huge profits and offered to gift Rathi a bungalow. He also convinced Rathi to open a Demat account in his wife’s name,” Rathod said.

When the promise of a bungalow failed to materialise and with no returns coming from his Rs 41 lakh investment, Rathi contacted the suspect, but he was evasive. Rathi approached the Vishrantwadi police station and lodged a complaint after he was unable to get in touch with the suspect. “We will soon arrest the suspect, who also claims to be a BHMS doctor,” Rathod said.  

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