Victims of two alleged investment fraud schemes have submitted a memorandum to Deputy Commissioner Mohammad Roshan and senior police officials, demanding stringent action against the directors of companies accused of collecting crores of rupees from investors before disappearing.
One of the complaints pertains to Vaika Retail and Technologies (OPC) Private Limited, based in Tilakwadi. According to investors, the company’s director, Siddharth Jambagi, attracted deposits by promising a monthly return of 5% and repayment of the principal amount after 20 months. Investors were provided agreements executed on bond paper and post-dated cheques as assurance.
Depositors claim that while interest payments and partial returns were made during the initial months, the scheme later collapsed. A suo motu case was registered by the police in 2021, leading to Jambagi’s arrest. However, investors allege that he absconded after securing bail. Around 89 investors reportedly invested approximately ₹3.10 crore in the company.
A similar complaint has been filed against Dr. Vijay Mohan Honnakamble, director of Mohanjyoti One Mart Trading in Athani. The company allegedly collected deposits by offering a 5% monthly return and repayment of the invested amount upon maturity.
According to the complainants, nearly 536 investors invested a total of ₹11.15 crore in the scheme. Additionally, under a separate lucky draw programme, 79 investors were promised double their investment within 20 months after depositing ₹5 lakh each, resulting in an alleged fraud of around ₹3.95 crore.
The affected investors have urged the Deputy Commissioner, Police Commissioner, and Superintendent of Police to trace the accused, initiate strict legal action, and make special efforts to recover the money lost by depositors.