CID files case for Ponzi scheme

Ahmedabad: On Thursday, CID (crime) of Gujarat police registered a complaint against yet another Ponzi scheme being run in Gujarat. Maitreya Pvt Ltd, a Vasai-based firm in Maharashtra, is suspected to have duped more than 400 persons of over Rs 10 crore.

Officials of CID’s Economic Offences Wing (EOW) said that Sarika Sankpal, 37, a resident of Asopalav Society, Hatkeshwar in Ahmedabad, has filed a complaint against Varsha Satpalkar, managing director of Maitreya Pvt Ltd, director Janardan Parulekar, general managers Laxmikant Narvekar, Nitin Chaudhari and Vijay Mistry (all based in Vasai and Thane in Maharashtra).

“The firm had a number of companies such as Maitreya Realtors, Maitreya Services, Maitreya Plotters and Structures, and Maitreya Swarna Siddhi among others,” a CID official said. “Agents of these firms used to encourage investment in different lucrative schemes, promising more and quicker returns compared to other financial institutions and banks. The agents were promised 20% commission. The promoters of the firm cheated customers by shutting down the business and not providing principal or interest amount,” the official said.