Surat: Pradip alias Munna Shukla who has produced some of the recent Gujarati movies like Rado, Nadidosh, and Locha Lapsi has been arrested. A primary investigation by Surat Police has revealed that Pradip had collected Rs. 102 crores by operating a Ponzi scheme. The scam came to light in the SEBI inquiry. Rs. 9 crore sum has been seized and returned to some of the investors.
A complaint against Pradip was filed in Surat Crime Branch in connection with Rs. 65 lakh cheating on Wednesday. Munna and his six aides had announced a 4 percent interest rate per month on investment and launched various schemes through his Shukul Group. Adajan, Bharucha society-based 64-year-old Reskhaben Bundela, her niece, and 23 other people had rushed to Surat Police’s Crime Branch to file complaints. According to Rekhaben, they had lost money in the Shukul group which was operating through the Ambrosia business hub-based office on Vesu VIP road. The firm’s name according to Rekhaben was Shukul Wealth Advisory, Shukul Wealth Creator LLP. The sub-sections of the scheme were Money Founder and Daily Gate.
SEBI noticed Pradip alias Munna Shukul Vidhyadhar Shukla in 2022. CLS license of SEBI is mandatory for mutual fund schemes and firms that invest in shares. However, the company operated by Pradip had no such license. It came to light that as many as Rs. 102 crores were invested in two accounts of Shukul Wealth Advisory and Shukul Wealth Creator. When SEBI intervened, the accounts had…
