Pune: Vishrambaug Police Arrested Former BJP Corporator Uday Joshi in Embezzlement of Rs 1.79 Crore in Ninad Urban Cooperative Credit Society

Pune:

Vishrambaug police have arrested the former BJP corporator Uday Joshi for allegedly defrauding citizens of nearly 1 crore 79 lakh rupees by taking deposits from them with the allurement of higher returns. Notably, various cases of fraud have already been registered against Uday Trimbak Joshi and his son, Mayuresh Uday Joshi.

As per the information, Uday Joshi and his son, Mayuresh Joshi, had a gas agency. By luring people to invest in it, they both had duped many people. In one of the cases, they cheated nine people, including a contractor, for Rs 5 crore. In this regard, a complaint of cheating under the Maharashtra Protection of Interest of Depositors (MPID) Act has been lodged against them at Vishrambaug Police Station.

As per the information, the accused runs Ninad Urban Cooperative Credit Society. In this credit society, the accused collected deposits from many people by promising them higher interest rates than banks if they deposited their savings into it. However, as they did not return deposits of 1 crore 79 lakh rupees of the people, people lodged complaints of cheating against them.

In this regard, Pratibha Vilas Panse (age 78, a resident of Shobha Nagar Society, Sahakar Nagar) registered a complaint at Vishrambaug Police Station. Accordingly, police booked cases against Uday Joshi, Shubhada Joshi, Mayuresh Joshi, Ramalinga Shivanage, Ashok Kulkarni, Vallabh Joshi, former president Mithilesh Gholap, and Vilas Bam.

The plaintiff’s husband is retired, and on his pension, they both manage their livelihood. The accused, Uday Joshi and Panse, are acquainted with each other. Taking advantage of an acquaintance, the accused lured Panse to give extra return than the bank on their deposits if they kept it in his credit society. Further, he also promised Panse that they give one percent extra returns to senior citizens on their deposits.

Trusting him, Panse kept deposits in the accused’s credit society. However, to his surprise, when he went to demand his money after the time period, he was expelled from the credit society. After the complaint, Assistant Police Inspector Pandurang Waghmare arrested Uday Joshi under the guidance of Senior Police Inspector Vijaymala Pawar.