A46-12 months-old IT expert, who fell for the Ashtavinayak scheme floated by means of absconding funding guru Selva Kumar Nadar, died via suicide by means of leaping from the terrace of an 11-floor residential constructing on Thursday after he experienced a spate of cheatings, said police.

Police said the deceased, identified as Prabhat Ranjan, an IT professional who lived in Yin Yang Society in Kharadi with his spouse and two dual daughters aged 10, left a two-web page suicide word wherein he blamed the folks that defrauded him and drove him to take the intense step.

The incident comes nearly five months after Selva Nadar closed his office in Nucleus Mall of Pune after defrauding over 2 hundred ‘profile investors’ to the music of Rs three hundred crore via his ‘loan investment scheme’.

Police said Prabhat had borrowed Rs 88 lakh from six one of a kind banks and invested the quantity in Selva Nadar’s Ashtavinayak investment in June 2021. He owed banks Rs 1.82 lakh a month in EMIs and had misplaced his process in December final 12 months.

According to police, except the cheating he confronted in the fingers of Selva Nadar, Prabhat turned into additionally duped of Rs 15 lakh by means of considered one of his loved ones, diagnosed as Sachin Kumar. Police said Kumar swindled the quantity from Prabhat among July 2021 and March 2023 through claiming to be making an investment it in a business and offering cast payments and cheques to Prabhat as proof.



Earlier this month, a pal of Prabhat, identified as Ajinkya Lokhande, offered a Mercedes vehicle Prabhat owned for Rs 7.50 lakh but paid him best Rs 3 lakh, stated police. Police have booked Nadar, former supervisor at Ashtavinayak Prasad Shinde, Sachin Kumar, and Ajinkya Lokhande under sections 34 (commonplace aim) and 306 (abetment of suicide) of the IPC. Prabhat’s elder brother Rajeev, who registered a case of abetment of suicide with Chandangar Police, said he jumped to his dying on the Yin Yang Society around 3.45am on Thursday.

Speaking to The Indian Express, Prabhat’s wife Neha Gupta, who is also an IT expert, said, “For the previous couple of months, Prabhat turned into extraordinarily troubled because of the Ashtavinayak rip-off. He turned into receiving a number of bank healing calls, criminal notices and private visits. He constantly tried to handle those on his personal with a view to protect us from harassment. Later, he turned into cheated by means of his cousin Sachin Kumar and his pal Ajinkya Lokhande, which made subjects worse. It’s critical that victims of the Ashtavinayak scam get help from government. I urge others to take care and not to take any severe step.”

Rajeev, who remains in Ranchi, stated, “Prabhat changed into feeling depressed due to the collection of cheatings… He known as me on July 12 and advised me that he turned into afraid. I had informed him that I will come right down to Pune to be with him. However, on July thirteen morning, I acquired a call from his buddy with the terrible information.”

A supervisor on the Ying Yang Society said a staff member, who had long gone to interchange at the water pump round 4am on Thursday, observed Prabhat’s body mendacity on the ground. “He known as me to inform me that ‘a person became snoozing’ there. It was a place hard to technique. After locating out what had took place, our seniors known as the police,” stated the manager.

Assistant police inspector Siddhant Khandekar, who’s investigating the case, stated Prabhat ate up an insecticide earlier than jumping from the residential constructing. “We located some empty bottles of the insecticide in his apartment. We additionally noticed in a CCTV digicam that he stepped out of the condominium at 2.49am. He seems to have long gone to the terrace and then jumped,” said the police officer.

Prabhat turned into one of the over two hundred folks who were allegedly cheated by way of Selva Nadar’s Ashtavinayak Investment’s ‘profile investor’ scheme, that is now problem of an research by means of Pune Police’s Economic Offences Wing.

According to police, Nadar and his clients approached high-salaried people with a great credit report with the ‘profile investor’ scheme. As part of the scheme, the organization implemented for private loans in multiple banks within the investor’s name with their consent and were given disbursal from numerous banks at the equal time. The amount became then invested in Nadar’s business enterprise with a promise of high go back on funding and duty of charge of EMIs on time. The loan quantity allotted became an awful lot better than the loan eligibility of the customer and his repayment capacity.

Assistant Commissioner of Police Appasaheb Shewale (EOW) instructed The Indian Express that the research within the case turned into underway. “We are looking to hint the main accused Nadar. We had been contacting the banks and amassing records approximately the fraud. This is a complicated financial crime and hence, the research is taking a while,” he stated.

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