New Delhi: Bollywood actress Varsha Usgaonkar has fallen victim to a shocking Rs 47 lakh investment scam. A builder and film producer named Avinash Jadhav allegedly duped her and four others with big promises of high returns from a construction project.
When the money stopped coming, the victims went to the police, who have now filed a case. This fraud story exposes the risks stars face in shady deals.
Scam details emerge
The fraud began between November 2019 and February 2020. Complainant Mrinalini Subhash Jambhale, who knew Jadhav professionally, said he posed as a builder and film producer. She told police that Jadhav convinced her and others, including Varsha Usgaonkar, to invest in a Dombivli construction project.
Jadhav promised quick profits and full return of the principal within a year, according to the complaint filed at Shivaji Park Police Station in Mumbai. The group paid around Rs 47 lakh through cheques and bank transfers. Police confirmed the investments came from Varsha, Mrinalini, and three others.
Initial payments build trust
At first, Jadhav paid back a small amount to gain trust. Investors received about Rs 4.52 lakh as promised profits, police officials noted. This made the scheme seem real, encouraging more faith in the project.
But soon, payments halted completely. When Mrinalini tried to contact Jadhav for the rest of the money, he became unreachable. She alleged he changed his phone number and address to avoid them.
Confrontation turns threatening
The victims finally tracked Jadhav to Dombivli and demanded their cash. Instead of repaying, he refused and threatened them, as per the complaint. This pushed the group to file a police report on February 26.
Shivaji Park Police registered an FIR against Jadhav under Sections 420 (cheating) and 506 (criminal intimidation) of the Indian Penal Code. Assistant Police Inspector Shailesh Shejul is leading the probe, checking bank transactions and trying to find the accused.
Investigation underway
Police say Jadhav targeted people from the Marathi entertainment world with his builder-producer story. No arrests have been made yet, but officials are digging deeper into the financial trail.
This case warns celebrities about risky investments. Varsha Usgaonkar, known for Marathi and Hindi films, is now caught in this mess along with others. The scam highlights how fraudsters exploit trust with fake high-return schemes.