Pune: A businessman from Bhawani Peth, Pune, has taken his own life after being allegedly defrauded of over ₹50 lakh by seven individuals who promised him high returns on his investments.

The Khadak Police have registered a case against the accused following a complaint filed by the businessman’s wife.

The deceased has been identified as 44-year-old Ramzan Sache, a garment trader, residing in Angarshaha Takiya, Bhawani Peth.

According to the police, the accused—Sunil Bele, Afsar Shaikh, Mateen Shaikh, Haider Shaikh, Asif, Mujammil Patwekar, and Sanjeev Bazarmath—took large sums of money from Sache after luring him with promises of lucrative returns.

Sache, who had even taken out a bank loan to provide the funds, was reportedly defrauded of more than ₹50 lakh.

When Sache later requested the return of his money, the accused allegedly refused to repay him, causing him immense mental stress. Unable to cope with the situation, on October 14, Sache committed suicide by hanging himself from an iron beam at his home using a scarf.

Initially, the police had recorded the incident as an accidental death. However, after a formal complaint was lodged by Sache’s wife, the Khadak Police have now registered a case of fraud and abetment to suicide against the seven accused. Assistant Police Inspector Kuldeep Vhatkar is leading the investigation.

Earlier in August, a tragic incident unfolded near Khadki railway station, where a 27-year-old man took his own life by jumping in front of a moving train.

The deceased, identified as Rishikesh Jayadev Mhasare, was allegedly driven to suicide following relentless harassment from five colleagues over a financial dispute.