3 months ago
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The Economic Offences Wing (EOW) has arrested a mates and their associate, who allegedly swindled much than 11,000 investors, including constabulary officials, from crossed Maharashtra of implicit ₹500 crore, constabulary said connected Saturday (January 31, 2026).
In a coordinated action, the Thane police's EOW tracked down the accused, Sameer Narvekar, his woman Neha, and their subordinate Amit Palaw, successful neighbouring Gujarat connected Thursday (January 29, 2026), an authoritative said.
According to police, the accused established an concern company, Trade with Jazz, with its office successful Pune successful 2019, offering a strategy that allegedly drew successful much than 11,000 people, including 1,500 constabulary personnel, from crossed Maharashtra.
The trio allegedly lured victims with promises of a 4% monthly instrumentality connected banal marketplace trading and allied ventures, the authoritative said, adding that the steadfast projected monthly net of astir 10% to physique credibility.
The institution abruptly unopen its offices and stopped responding to investors, prompting a flood of constabulary complaints, helium said.
According to the archetypal probe, investors person been defrauded of astir ₹500 crore.
The authoritative said that the EOW has besides gathered accusation suggesting that respective authorities officials and bureaucrats, immoderate of them retired from service, had invested successful the scheme.
The trio person been booked nether the Maharashtra Protection of Interest of Depositors (MPID) Act, 1999, and sections 61(2)(criminal conspiracy) and 316(5) (criminal breach of trust) of the Bharatiya Nyaya Sanhita, 2023, helium said.
The Thane EOW is examining slope accounts, fiscal documents and wealth flows linked to the accused, and further arrests are likely, the authoritative said.
