A court in Maharashtra’s Thane district has acquitted a social worker, Karishma Manoj Punamiya (35), and her employee, Rajveer Navratna Sharma, who were accused of cheating women of Rs 39.74 lakh through an investment scheme.
The court, presided over by Special Judge Premal S Vithalani, found that the prosecution had not established the charges under the Maharashtra Protection Of Interest Of Depositors (MPID) Act. According to the prosecution’s case, Punamiya operated a monthly investment scheme in which she collected Rs 1,000 from each investor for 36 months, promising to return Rs 36,000 along with Rs 5,000 in interest to each participant. The prosecution alleged that the accused defrauded investors of Rs 39.74 lakh and failed to fulfill their promises.
However, the court’s verdict states that the prosecution did not present sufficient evidence to substantiate the charges against Punamiya and Sharma, leading to their acquittal.