Belagavi: Belagavi has been rocked by yet another alleged investment fraud, following the Shivam Associates and Adityaraj Capital cases that left thousands of investors in distress amid investigations by authorities.Hundreds of investors staged a protest outside the deputy commissioner’s office on Monday, accusing Tilakwadi-based Apex Bizcorp LLP of cheating them of nearly Rs 165 crore by promising exceptionally high returns on investments.According to the protesters, the company allegedly collected deposits from more than 3,500 investors, including farmers, daily wage labourers and small savers, by offering annual returns of 48%, equivalent to 4% per month. They claimed the firm accepted investments starting from Rs 50,000 and assured profits through real estate ventures, fixed deposits, options trading and other investment schemes.The aggrieved investors alleged that the company primarily relied on personal networks, messages and promotional events to mobilise funds rather than formal documentation. They claimed communication from the management has now ceased, leaving thousands worried about their savings.The protesters demanded a thorough probe into the company’s financial transactions, assets, bank accounts and business operations. They also urged authorities to freeze all related accounts and properties to protect investors’ interests.Investors further alleged that the company’s CMD, Kashinath Waghamare, is currently in Dubai, while other directors, including Ganesh Parashuram Bhandare, remain in India and should be traced for questioning. Authorities are yet to verify the allegations, and an official investigation is awaited.
