A major financial fraud case involving an alleged ₹5 crore investment scam has been registered in the city. The Economic Offences Wing (EOW) has booked Dr. Sameer Chaubey, director of Asian Kidney Hospital, following a complaint related to a pharmacy investment scheme.
According to complainant Sameer Savvalakhe, he met Dr. Chaubey in 2019 when the latter offered him an opportunity to start a pharmacy within the hospital premises at Shankar Nagar Square. Trusting the hospital’s reputation, Savvalakhe agreed to the proposal, and Dr. Chaubey allegedly asked him to invest ₹25 crore in the venture.
Since Savvalakhe could not arrange the entire amount alone, he brought in three associates—Sachin Makde, Varun Chavan, and Deepak Singh—as investors. Sachin and Varun invested ₹1.87 crore each, Deepak Singh invested ₹25 lakh, and Savvalakhe contributed ₹1 crore. In June 2019, the four investors signed a Memorandum of Understanding (MoU) with Dr. Chaubey and collectively paid about ₹5.14 crore through cash and online transactions.
As per the agreement, Dr. Chaubey was expected to ensure monthly business of ₹60–₹90 lakh for the pharmacy over seven years, while 18% of the medicine sales revenue was to be paid to him. The MoU also reportedly stated that no other pharmacy would be allowed to operate within the hospital premises. However, police said that Dr. Chaubey later permitted another pharmacy to function in the same premises, leading to the complaint and subsequent registration of the fraud case by the EOW.
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