Khargone Teacher and Associate Arrested in Rs 86 Lakh Investment Scam
Police in Khargone have arrested a government teacher and his associate for allegedly cheating multiple investors of nearly Rs 86 lakh. The accused promised high returns from share market investments but failed to deliver.
Complaints from Nine Residents Spark Investigation
Nine residents of Khargone filed a complaint stating that Sanjay Solanki, a government teacher, and his associate Ghulam Moinuddin lured them into investing money. The duo promised profits of 15 to 20 percent from share market trading.
Between 2023 and December 2024, the accused collected around Rs 80 lakh from investors. They deposited the money into bank accounts belonging to Ghulam Moinuddin.
Initial Payments Used to Build Trust
Initially, some complainants received partial returns to gain their confidence. However, later neither profits nor the principal amount was returned. Despite repeated follow-ups, the accused kept misleading investors with false assurances.
Taking cognisance of the matter, Superintendent of Police Ravindra Verma ordered a detailed investigation. Police found that approximately Rs 86 lakh was misappropriated.
Case Registered and Accused Arrested
A case was registered at Kotwali Khargone under sections of cheating and criminal breach of trust. The matter was taken up for further investigation.
During the probe, police revealed that the main accused, Ghulam Moinuddin, hails from Raigad, Maharashtra. He is already lodged in Indore jail on a similar cheating case. He was formally arrested in the present case on court orders.
Sanjay Solanki, 41, was posted as a teacher at Government Middle School Piperkheda. He was arrested on January 16 and produced before court. Police obtained his remand for detailed interrogation.
Larger Scale of Fraud Uncovered
During questioning, Solanki disclosed that around 120 people were connected through him. Nearly Rs 7 crore was deposited into the bank accounts of co-accused Ghulam Moinuddin.
Based on his statements and available evidence, police said further legal action would be taken against other persons involved in the racket. The investigation continues to uncover the full extent of the fraud.
