HYDERABAD: The Central Crime Station (CCS) has registered a case against a man accused of cheating investors by collecting more than `1.87 crore in the name of chits and absconding with the money.
According to a complaint filed by 33-year-old businessman Anil Kumar Agarwal, he began trading independently in commodities in 2019–2020 and regularly followed moneycontrol.com, where he came into contact with Mukesh Pathak of Indore. Pathak claimed to offer paid advisory services through his registered firm ‘Only Profit No Loss’. Over time, they remained in touch for trading advice. Pathak repeatedly urged him to invest in his company’s schemes, promising guaranteed monthly profits of 4% to 6% without risk. Though initially reluctant, Agarwal began investing in September 2021.
Pathak paid 4% monthly profit as promised and later pushed him to bring in more members and invest larger sums. Between September 2021 and September 2024, Agarwal, along with family members, relatives and friends, invested `1.87 crore in various schemes. For a period, the accused returned profits, but payments stopped in September 2024. He then neither paid profits nor returned the principal, citing excuses.
Agarwal said Pathak executed MoUs for other victims as well and issued cheques that were dishonoured, “clearly proving his dishonest intention to cheat and defraud all of them of Rs 1.87 crore”.
CCS police have registered a case and launched an investigation.