Pune: A shocking case of financial fraud has surfaced in Shirwal, where an engineer was duped of ₹1.10 crore under the guise of high returns on an investment.

The accused, identified as Laxmikant Nathuram Trivedi, Managing Director of Vikarsh Stamping India Pvt. Ltd., also allegedly threatened the complainant with death. A formal complaint has been registered at the Sinhagad Road Police Station in Pune.

The victim, Appasaheb Dattatray Shedge (56), originally from Hatnur, Tasgaon Taluka, Sangli, and now residing in Pune, is a designer consultant with a manufacturing firm.

According to the complaint, Shedge was introduced to Trivedi by a mutual friend. Trivedi convinced Shedge to invest in his company, Vikarsh Stamping India Pvt. Ltd., located in Dhangarwadi, Khandala Taluka, promising a lucrative 30% return on the investment.

Shedge subsequently handed over ₹81 lakh through cheques and an additional ₹29.50 lakh in cash to Trivedi, with a formal agreement outlining the terms. However, when neither the returns nor the principal amount were repaid, Shedge made multiple attempts to contact Trivedi.

Trivedi allegedly evaded these requests and, during a meeting, verbally abused Shedge and threatened to kill him. Realizing the deception, Shedge approached the Sinhagad Road Police Station and filed a complaint. Police Sub-Inspector Amol Malusare confirmed that an investigation is underway.