Kolhapur LCB nabs cheating accused on run for 4 years

Kolhapur: A man — accused of cheating investors to the tune of Rs3.6 crore by promising them handsome returns and had been on the run for the past four years — was recently arrested by the city police.A case against the accused, identified as Govind Shivaji Patil, was registered at Shahupuri police station under sections 420, 406, 34 of IPC and 3, 4 and 5 of Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 (MPID Act). The accused is a resident of Shiye village of Karvir tehsil of Kolhapur district. "He had set up an investment firm-Sanvik Wealth Management at Ayodhya Tower near Dabholkar Corner," a police officer said.A special squad of the local crime branch (LCB) of Kolhapur police —tasked by superintendent of police Yogeshkumar Gupta — to nab absconders in financial frauds got the information that Patil had come to his home in Shiye village. "A team led by sub-inspector Jalindar Jadhav reached there and nabbed Patil from his house. He was later handed over to Shahupuri police station," Sushant Chavan, police inspector Kolhapur LCB, said.In 2024, Akshay Anil Kamble, one of the proprietors of the firm was arrested.