Police accused of shielding investment firm involved in cheating investors
Over 4000 gullible middle-class investors, including a sizable number of pensioners, who have been duped by a Badlapur-based 'S.Samudra’s Sagar Investments', after the firm accepted their deposits worth lakhs of rupees, have decided to organise a massive agitation against the Thane police for its failure to register an offence against the accused.
The investors, who have formed a committee under the leadership of Shiv Sena Corporator, Shailesh Wadnere, in a meeting held in Badlapur in Thane district on Tuesday, decided to gherao the Thane police commissioner for its refusal to lodge a formal complaint against the absconding accused, whose offices remain closed.
Over 125 duped investors have already submitted a memorandum to the Kulgaon police, on May 3 with copies to the Thane Police Commissioner Param Bir Singh, demanding action against Shriram Samudra, Anagha Samudra, Suhas Samudra and Bhakti Samudra said to be the directors of the S.Samudra’s Sagar Investments. But the police are yet to take any action against the investment firm.
The complainants have stated that they had invested their money with the firm which offered them yearly 18 percent interest on their deposits. Initially, the firm used to pay the interest regularly. But after demonetization of currency on November 8, 2016, the firm stopped paying interest and by February this year, it closed down all its offices located at Sagar House, near Anant Nagar, Kulgaon, Badlapur(East), Shiv Shankar Building, Lele Ali, Tilak Chowk, Kalyan(West), Pranav Omkar Apartment, Manpada, Dombivli East and Raj Darshan, Dada Patil Wadi, Thane West.
Wadnere said that it is surprising that the police are not registering even a formal complaint against the accused, who is certain to have run away out of India by now. It is not clear whether he is backed by any politician. However, we will not give it up and stage a series of agitations till such time the accused is arrested.
When contacted Shiv Sena MP, Dr Shrikant Shinde, said that every effort would be made to give justice to the duped investors. Nearly 60 percent of the investors are retired pensioners, he added.
Repeated attempts by this correspondent to reach Thane Police Commissioner, Param Bir Singh and DCP (EOW) Sandip Bhaji Bhakre failed.
ABOUT ‘SI’
'Sagar Investments' operating since 1988, claiming to be a SEBI approved sub-broker, was offering advice on investments, insurance, retirement plans and was running many money-doubling schemes. It also claimed to be offering a wide range of services for high net worth Individuals, and NRIs, under one roof.
However, today thousands of middle-class people, who have deposited their lifetime earnings with the company are running from pillar to the post to recover their money with no concrete help from anyone.
Over 4000 gullible middle-class investors, including a sizable number of pensioners, who have been duped by a Badlapur-based 'S.Samudra’s Sagar Investments', after the firm accepted their deposits worth lakhs of rupees, have decided to organise a massive agitation against the Thane police for its failure to register an offence against the accused.
The investors, who have formed a committee under the leadership of Shiv Sena Corporator, Shailesh Wadnere, in a meeting held in Badlapur in Thane district on Tuesday, decided to gherao the Thane police commissioner for its refusal to lodge a formal complaint against the absconding accused, whose offices remain closed.
Over 125 duped investors have already submitted a memorandum to the Kulgaon police, on May 3 with copies to the Thane Police Commissioner Param Bir Singh, demanding action against Shriram Samudra, Anagha Samudra, Suhas Samudra and Bhakti Samudra said to be the directors of the S.Samudra’s Sagar Investments. But the police are yet to take any action against the investment firm.
The complainants have stated that they had invested their money with the firm which offered them yearly 18 percent interest on their deposits. Initially, the firm used to pay the interest regularly. But after demonetization of currency on November 8, 2016, the firm stopped paying interest and by February this year, it closed down all its offices located at Sagar House, near Anant Nagar, Kulgaon, Badlapur(East), Shiv Shankar Building, Lele Ali, Tilak Chowk, Kalyan(West), Pranav Omkar Apartment, Manpada, Dombivli East and Raj Darshan, Dada Patil Wadi, Thane West.
Wadnere said that it is surprising that the police are not registering even a formal complaint against the accused, who is certain to have run away out of India by now. It is not clear whether he is backed by any politician. However, we will not give it up and stage a series of agitations till such time the accused is arrested.
When contacted Shiv Sena MP, Dr Shrikant Shinde, said that every effort would be made to give justice to the duped investors. Nearly 60 percent of the investors are retired pensioners, he added.
Repeated attempts by this correspondent to reach Thane Police Commissioner, Param Bir Singh and DCP (EOW) Sandip Bhaji Bhakre failed.
ABOUT ‘SI’
'Sagar Investments' operating since 1988, claiming to be a SEBI approved sub-broker, was offering advice on investments, insurance, retirement plans and was running many money-doubling schemes. It also claimed to be offering a wide range of services for high net worth Individuals, and NRIs, under one roof.
However, today thousands of middle-class people, who have deposited their lifetime earnings with the company are running from pillar to the post to recover their money with no concrete help from anyone.
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