A Khar based entrepreneur was duped by a group of men by adding names of companies like Vodafone, Nestle and Unilever.
In yet another case of investment fraud, a city based entrepreneur has claimed to have been duped to the tune of Rs 32 lakhs by a group of persons, including two foreigners, by presenting a rosy 'start up' plan to him, in the name of a foreign investment firm.
The entrepreneur R S Arora, residing at Khar in North West Mumbai, has filed an FIR (No 31/2017 dated April 26, 2017) alleging that he was coned into investing money in 'Spring Leap' ( New York, USA), by describing the company as the best company for investment by a group of middlemen.
Arora, in his FIR has named has named a Spring Leap Company, Mandar Gadkari, Ashwin Sanzagiri, Kaushal Chowksy, Eran Eyal, CEO, and founder, Spring Leap(USA) and Trevor Wolfe (South Africa), as the accused.
In a related development, the accused Mandar Gadkari, has sought an anticipatory bail from the City Civil and Sessions Court, Mumbai. The matter is slated to come up for hearing before the Judge Dinesh Surana on June 9, 2017.
An FIR has been filed under sections 405,406,409, 420, 120 B, 34 of the Indian Penal Code (IPC) and sections 3and 4 of the Maharashtra Protection Of Interest Of Depositors Act (MPID) alleging that the accused Gadkari, Sanazagiri and Chowksy conned him to invest in the 'Spring Leap' by giving false promises time to time. He has attached an assortment of e-mails sent to him by these persons, insisting that he should invest in 'Spring Leap', since it is the best company for 'start up' ventures and it would ensure him multiple returns on his investment.
All the above individuals were stated to be representing the 'Cross Border Angels' (CBA), a sister concern of 'Scaale Inc', USA. The 'Scaale Group', has been described as the 'growth consultants' helping companies through executing innovative global strategies. The group has also stated to have offices at San Francisco, Toronto, London, Carson City, Florida, Portugal, Madrid, Mauritius and Dalian.
In the FIR, Arora stated that after the Prime Minister of our nation Narendra Modi, announced the 'start up' initiative, he initially inquired about the 'start up' plans with Sanzagiri. Then Sanzagiri and Gadkari held a meeting with him at his office- cum- residence in Khar in June 2015. On June 8, 2015, the accused, via e-mail told him that other companies like Nestle, Vodafone, Unilever, BMW and WPP had also invested in 'Spring Leap'. As such, Arora called for the detailed list of investors.
Then, Gadkari through e-mails on July 20, 2015 and July 23, 2015, told him that he should hurry up, other wise the deal would be closed. Eventually, Arora transferred $ 50,000 (INR Rs 32,02,500) by a telegraphic transfer.
However, on March 1, 2016 the accused told him that Spring Leap was not in existence anymore and all the funds have been siphoned off by Chowksey. However, his money would be returned and he should not lodge a complaint about this. They also sent a draft of a 'settlement agreement' to Arora. But, having realized that there were no signs of his money being returned and no one, including Nestle and Vodafone, had invested in the company, Arora filed a complaint with the Khar police. Arora has also stated to have lost another Rs 18 lakh which he had invested in another firm 'Claned”' through the above accused.
When contacted Police Inspector Ramchandra Kane, he said that the matter is being investigated and there have been no arrests so far.
When contacted Gadkari, he asked the correspondent “Do you know anything about 'Start up'? The start up ventures are not a money doubling scheme.
Nevertheless, we have given all the explanation to the police and waiting for further outcome. I am not authorized to speak on this issue with anyone”, he added.