After the Shivam Associates and Adityaraj Capital cases, another alleged investment scam has surfaced in Belagavi. Investors have accused Tilakwadi-based Apex Bizcorp LLP of cheating nearly ₹165 crore by promising 48% annual returns.
On Monday, hundreds of investors staged a protest outside the DC office, alleging that over 3,500 people, including farmers and daily wage workers, were affected. They claimed the company collected investments starting from ₹50,000 by promising 4% monthly returns through real estate, fixed deposits, options trading and other ventures.
Investors alleged that the company promoted the scheme through personal contacts, messages and events instead of formal documents. They said communication from the management has now stopped.
They have sought a detailed probe into the company’s accounts, assets, transactions and promoters, along with freezing of related bank accounts and properties.
The investors have also alleged that CMD Kashinath Waghamare is currently in Dubai, while other directors are being traced.
Authorities are yet to confirm the allegations, and further investigation is awaited.