Thane cops bust ₹500cr Ponzi scheme, arrest 3
Thane police have arrested Sameer and Neha Narvekar, along with their associate Amit Palaw, for allegedly running a fraudulent investment scheme through their Trade with Jazz platform.
Since 2019, they promised thousands of people—including about 1,500 police personnel—unrealistically high monthly returns on investments.
The company abruptly shut its offices and stopped responding to investors when things started falling apart.
Investigators are looking into bank records and money trails
The group promised monthly returns of around 3-5%—none of which were sustainable.
After duping over 11,000 investors out of ₹500 crore, they're now facing serious charges under Maharashtra's anti-fraud laws and the Bharatiya Nyaya Sanhita.
Investigators are digging into bank records and money trails; more arrests could follow.