Amit Lunkad Fraud Case : Builder Amit Lunkad, along with his family members Amol Lunkad and Pushpa Lunkad, are under investigation by Pune Police in connection with a fraud case amounting to over ₹50 crore. The trio allegedly lured investors with promises of returns higher than the prevailing market rates, offering monthly returns of 1.5%. Through various deposit schemes, they are said to have collected huge sums of money from investors, but have failed to repay the principal or interest, leading to a string of complaints.
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The Economic Offences Wing (EoW) of Pune Police has received at least ₹50 crore worth of complaints from investors. However, despite months of investigation, the details of the ongoing probe remain vague. While authorities claim that the investigation is in progress, the victims remain frustrated over the slow pace of the inquiry.
DCP Vivek Masal, head of the Economic Offences Wing, stated that complaints against Amit Lunkad had been filed previously, with some complainants withdrawing their claims. However, new complaints have surfaced recently, and the EoW is now consolidating these cases for a thorough investigation.
The complaints have named Amit Kantilal Lunkad, Amol Kantilal Lunkad, and Pushpa Kantilal Lunkad as the accused. Pravinchand Jain, one of the first to file a complaint, reported that the Lunkads initially gained his trust by promising high returns on various deposit schemes.
Amit and Amol Lunkad allegedly assured investors a 1.5% return per month, which was above the market rate. Encouraged by this promise, Pravinchand Jain invested ₹6.81 crore in the Lunkad Realty group. Initially, he received the agreed-upon returns. However, since 2019, the payments began to become irregular, and the cheques provided by the Lunkads bounced due to insufficient funds. This led Jain to file a complaint with the Economic Offences Wing in the previous year.
Several other investors have come forward with similar complaints of fraud, alleging that they too have been duped by the Lunkad family. Notable complaints include a ₹26.7 crore fraud to Khinsara Chavan, ₹8.38 crore to Ashok Raison, ₹1.22 crore to Satish Selot, and several smaller amounts to other victims. Among them are Deepak Lunkad with ₹1.59 crore, Smita Deshpande with ₹27.87 lakh, Prakashchand Bora with ₹2.47 crore, Bharat Chengedia with ₹46.49 lakh, and Gokul Bothra with ₹1.2 crore. The total amount of complaints reported so far exceeds ₹50 crore, with new complaints filed as recently as October and November of 2024.
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Despite the large number of complaints, many victims are disappointed with the pace of the investigation, with several claiming that they have not even been called by the EoW to record their statements. DCP Vivek Masal has assured the public that the investigation is ongoing, and all complaints will be analyzed and processed together to build a strong case against the accused.
As the investigation unfolds, the Lunkads face mounting pressure from both the authorities and the victims, who hope for a resolution to this extensive financial fraud case. (Amit Lunkad Fraud Case)
