cheating | Z+ Insurance

The family of Pune-based realtor D S Kulkarni of the DSK Group on Friday collected some documents and electronic gadgets from his office on JM Road and a bungalow on Senapati Bapat Road in Pune, in the presence of Enforcement Directorate (ED) officials.

Kulkarni had sought permission from a court in Mumbai to take certain documents and electronic gadgets from his office and bungalow seized by the ED, as he required them for the court case against him.

As per the court’s order, ED officials opened the office and bungalow and allowed Kulkarni’s family to collect the materials. The ED officials then sealed the properties again. The officials video-recorded the entire procedure and also prepared a record of documents and other materials taken by Kulkarni’s family.

Since October 2017, the Economic Offences Wing (EOW) of Pune City police has been probing the DSK Group for allegedly cheating around 35,000 depositors and investors to the tune of Rs 1,083 crore, siphoning of Rs 711 crore received in the form of loans, and Rs 111 crore accepted through debentures and a land deal in Fursungi involving embezzlement of Rs 184 crore.

The ED has also launched an investigation into the alleged money laundering case by the group as per provisions of the Prevention of Money Laundering Act (PMLA). In February 2019, the ED had attached assets worth Rs 904 crore of the DSK Group for allegedly defrauding small investors.

According to a statement then issued by the ED, Kulkarni, his wife Hemanti and their son and executive director of the DSK Group allegedly floated eight partnership firms in Mumbai, Pune and Kolhapur to collect deposits from “gullible investors”.

The agency said between 2006 and 2017, the firms raised about Rs 1,129 crore from over 35,000 investors. The immovable properties attached by the ED include land, buildings, flats, insurance policies and cash deposits in bank accounts.

The ED statement said the three officials of the group, “layered and integrated” the funds received by the eight partnership firms “through various high-value sham transactions under cover of capital, advance against property and director’s loan between 40 group companies” of DSK to project it as “untainted money”.

The ED has alleged that the money was then laundered to four DSK firms in India and the US, as well as to the bank accounts of the Kulkarnis. The ED statement also said the laundered money was utilised to purchase properties in India and the US, to repay bank loans and to purchase high-value LIC policies for the Kulkarni family, among others.

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Cop, doctor, CA, lawyer help Ahmednagar man pull off Rs 2 crore insurance fraud | Mumbai News

MUMBAI: A debt-burdened man from Ahmednagar, his friend and his aunt, a police constable, a chartered accountant, a doctor and a lawyer conspired to pull off a Rs 2-crore insurance fraud by faking the death of the mastermind, stated the chargesheet recently submitted by Shivaji Park police in court.
The 550-page chargesheet named main accused Dinesh Taksale, his friend Anil Latke, Latke’s aunt Zunzarbai Wagmode, and government medical health officer Vishal Kevare for cheating, forgery, breach of trust and criminal conspiracy. Constable Kailash Deshmukh and others have been shown as absconding accused.
In 2015, Taksale took a Rs 2-crore life insurance policy from LIC and paid premium till December 2016. While buying the policy, he submitted forged documents,which were processed by a lawyer and signed by a CA.
The suspects waited a year-and-a-half before they struck, when they found the mutilated body of a man who died in a road accident. His body was taken to a hospital for post-mortem. Medical officer Dr Sunil Belote told police Deshmukh brought the body and said it was that of Taksale’s. Dr Belote said they then went to Dr Kevare’s office where a woman – later identified as Wahmode – claimed she was Taksale’s mother, and that her son was mentally challenged so they did not make any IDs for him.
LIC, however, felt something amiss when Wagmode came to claim the insurance amount, and alerted police.
The identity of the deceased is still unknown.

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