Pune: A senior citizen from Karvenagar has accused three individuals of defrauding him of ₹1.12 crore under the pretext of assisting with a land purchase for a farmhouse in Lonavala and offering lucrative stock market investments.

The Koregaon Park Police Station has registered a case against the accused: Nishun Radhesham Patel (39), Madhubala Radhesham Patel, both residents of Gurudatt Avenue, Koregaon Park, and Vivek Anand Devan Shenoy (69), a resident of Popular Heights, Burning Ghat Road, Koregaon Park.

According to the police, the accused built a relationship of trust with the complainant by maintaining friendly ties. They assured him assistance in purchasing land for a farmhouse in Lonavala and promised substantial earnings from stock market investments.

Over time, the complainant and his wife were persuaded to hand over a total of ₹1.12 crore to the accused in multiple transactions. However, the promised land was never provided, and neither the principal amount nor the returns from the alleged stock market investments were repaid.

Adding to the deceit, the accused took possession of the complainant's vehicle under the pretext of personal use and failed to return it. When the complainant demanded repayment of his money and delivery of the land, he was allegedly threatened with false legal accusations.

The Koregaon Park Police have registered a case under relevant sections and have assigned the investigation to Police Sub-Inspector Deepak Jadhav, who is currently probing the matter.