Pinamic A.S. Global Fraud, dupes investers for crores
Pinamic A.S. global Fraud Kolhapur / Sangli : Pinamic A.S. Global Company, based in Sangli, Maharashtra, has been accused of defrauding thousands of investors in a scheme promising high returns. This incident adds to a growing list of investment frauds plaguing the Kolhapur-Sangli area, which has seen several crore-rupee scams in the past, including the infamous A.S. Traders investment fraud
The company lured investors with the promise of a 15% monthly return and double the invested amount within ten months. In November 2022, a case was registered at the Shahupuri Police Station in Sangli against the company. Following this, three company agents were arrested by the police.Pinamic A.S. global Fraud is much larger
The investigation has revealed that the extent of the fraud is much larger than initially thought. More than 100 investors from Radhanagari taluka have come forward to file complaints with the police.
The arrested agents have been identified as Nitin Ravindra Parit (32), Mallappa Appa Pujari (48), and Bhairavnath Nivrutti Palakar (53). The main accused in the case are Pankaj Namdev Patil, Abhijit Shrikanth Jadhav, and Santosh Gangaram Ghodke. A complaint has been filed by Amol Dhondiram Shetkari (38).
Pankaj Patil, the head of Pinoramic Company, had appointed Nitin Parit, Mallappa Pujari, and Bhairavnath Palakar to collect investments in Kolhapur district. They organized seminars in various parts of the city and promised investors a 15% monthly return and double the invested amount within ten months.
Despite the lack of any written agreement and most transactions being in cash, investors trusted the company and invested lakhs of rupees. The company initially paid the 15% monthly return for a few months to gain the investors’ confidence. However, they later stopped paying the returns and disappeared.
After realizing that they had been duped, the investors approached the police and filed a complaint. The total amount of fraud in this case is estimated to be around ₹1.83 crore.
Fraud in Radhanagari taluka:
It has also been revealed that Pinoramic Company has duped more than 100 investors in Radhanagari taluka to the tune of around ₹1.25 crore. Some investors from the taluka filed their statements at the Shahupuri Police Station on Monday. The fraud is said to have taken place between January 2021 and November 2022. The extent of the fraud is expected to increase further.
Police investigation:
The police are currently investigating the case and searching for the main accused. They are also trying to trace the money that was invested by the victims.
Advice to investors:
This case is a reminder to investors to be cautious before investing in any scheme. They should always check the credentials of the company and the scheme before investing. They should also get all the terms and conditions in writing and avoid investing in schemes that promise high returns in a short period of time.