MUMBAI, 11 JUNE, 2025 (GPN/ SANJAY GIRI)- Common people are falling into the clutches of big fraudsters in the hope of getting more money. Govandi police have arrested an accused who scammed crores by promising huge interest rates.

Govandi police have arrested Praveen Joginderpal Obhan, a fraudster who duped hundreds of investors of over Rs 7 crore by promising attractive interest rates on investments. A few months ago, the accused Obhan had set up an office in the name of Access Fin Services in a building opposite Shatabdi Hospital in Govandi, located at Office No 2B, Above Pravin Auto Parts, W T P Marg, Chembur, Mumbai.

He had attracted many investors by informing them about various investment schemes. Many had fallen for his lure of paying huge interest and invested lakhs of rupees in his company.

He had accepted these amounts in the names of several companies like Mahalaxmi Financial Services, Syndicate Union Enterprises etc. A female investor had even invested Rs 40 lakh in this company.

After taking crores of rupees in this way, accused Obhan closed the office and ran away without paying interest or principal to anyone.

Among the investors who were scammed, the complainant Mrs. Neelam Subhash Chiplunkar has complained of being defrauded by the accused Pravin Jongidarpal Obhan through financial institutions such as Access Financial Services, Mahalaxmi Financial Services, Syndicate Union Enterprises. A case was registered against the accused Pravin Jongidarpal Obhan on 19 May 2025 at Govandi Police Station, G.R. Co. 178/25 under Sections 21 (1) (2) (3), 23, 26 of the Unlawful Deposit Schemes Prevention Act 2019 along with Sections 318 (4), 316 (2) of the IPC.

The investigation revealed that the complainant Mrs. Neelam Subhash Chiplunkar was duped for- an amount of Rs. 40 lakhs and a total of 27 witnesses so far, a total amount of approximately Rs. 6,92,00,000/- was defrauded. Since the case was registered against Obhan, the police were searching for the accused. Finally, Pravin Jongidarpal Obhan, a resident of Sindhi Society in Chembur, was arrested yesterday.

Obhan introduced them to various investment schemes, including one ‘World cup special monthly investment scheme’ in which a Rs. 40 lakh investment for 15 months will give investors Rs. 8 lakh returns beginning from the fourth month. At the end of a year, investors would be rewarded with Rs. 96 lakh. Lured by this, the complainant said she invested Rs. 40 lakh with Obhan’s firm. He also gave a pamphlet of this scheme to the complainant so she could promote it, said a police officer.

Further investigation into this crime is being conducted by Assistant Commissioner of Police, Chembur Division, Ramrao Dhikle. This work has been done under the guidance of Hon. Additional Commissioner of Police, Eastern Regional Division, Dr. Mahesh Patil, Hon. Deputy Commissioner of Police, Sameer Sheikh.

The police suspect that a large gang may be involved in this crime. The police have appealed to investors who have been cheated by this accused to file a complaint with the office of the Assistant Commissioner of Police, Chembur.