Nagpur, Nov. 13 -- Police have registered a case against 39-year-old Arvind Yadavrao Parate for allegedly defrauding investors of crores of rupees through a purported share-trading scheme, officials said on Wednesday.
According to the complaint by 65-year-old Gopal Vitthalrao Khambalkar, a retired deputy executive engineer of Koradi Thermal Power Station, Parate promised to double investments within two years via a brokerage agency he represented called "Angel Ek".
Khambalkar said he first invested Rs 1 lakh in August 2022 after Parate gained his confidence by paying occasional interest on earlier deposits.
In July 2023, Parate allegedly told him that he had founded two entities - "KY Share Market Trading and Academy" at Somalwada and "K...