An 80-year-old retired IPS officer has reportedly been swindled out of ₹50 lakh in an elaborate investment scam linked to a Dubai-based firm. The complaint, now under investigation by Deccan Police, reveals that the main accused is a repeat offender. Another victim has also surfaced, claiming a loss of ₹1.5 crore in the same scheme.
The Complaint
The FIR was filed by Maruti Shankarrao Maheshgouri, a resident of Vishalnagar, Wakad. He accused Rajeev Ashok Kendre, currently residing in Dubai, and Harshal Ashok Kulkarni from Kothrud, of deceiving him with a promise of a monthly return of ₹4.5 lakh on his investment.
Between 2021 and 2023, Maheshgouri transferred ₹50 lakh to the duo, expecting consistent returns that never materialized. Instead, the funds were allegedly siphoned off.
A Pattern of Deceit
Senior Police Inspector Girisha Nimbalkar confirmed that Rajeev Kendre has a history of similar offenses, with prior cases registered at the Wakad and Hinjewadi police stations. Authorities now suspect a broader scam involving multiple victims.
“We have so far received complaints from two individuals,” said Inspector Nimbalkar. “Anyone else defrauded in the same manner is encouraged to approach the Deccan Police.”
Legal Measures and Investigation
A case has been registered under relevant sections of the Indian Penal Code (IPC) and the Maharashtra Protection of Interests of Depositors (MPID) Act, designed to tackle fraudulent financial schemes that target public investors.
Police are actively pursuing leads and have issued a public advisory urging vigilance, especially among senior citizens and retired professionals who are often vulnerable to high-return investment traps.
