Sports event

CEO of sports events management company accused of cheating

The managing director (CEO) of a sports events management company was among seven people detained by Pimpri-Chinchwad police for allegedly duping a Mumbai-based businessman for ??1

The managing director (CEO) of a sports events management company was among seven people detained by Pimpri-Chinchwad police for allegedly duping a Mumbai-based businessman for ??1.5 crore.

However, the CEO claimed that the company only received ??25,000,000 in their accounts and offered to return the money through legal notice.

However, the complainant allegedly claimed ownership of the company instead.

The money was reportedly taken from him in the form of an investment in the “Maratha Premier League” cricket event and promised regular 20% returns on the investment.

The CEO of the company was identified as Vincent John while other people involved in the case included his partner and five others. The business run by the accused has been identified as Squarecuts Sports Pvt Ltd.

A complaint in the matter was lodged by Mr. Jerome Saldahna (46 years), a businessman based on the road Miya Mohammad Chotani in Mahim, according to the police.

The complainant claimed in his statement to police that John had promised a 20% monthly return while making an investment of ??1,48,39,000 three people through the complainant.

“My client is not even aware of this case filed against me. The deal was he was supposed to invest ??20 crore in our business and we were supposed to give him a share of the capital. We made a resolution to you (in March) that within sixty days we would give you the equity share. He broke his promise and we dissolved the resolution. We also sent him a formal notice asking him to get his money back and asked for his bank details. Now he is only trying to create a nuisance because it is becoming famous, ”said lawyer Rakesh Umrani, the legal representative of the company.

A case under Articles 406, 420, 465, 468, 471 and 34 of the Indian Penal Code was registered at the Wakad Police Station.

Close story


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *