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Main accused in Moneyedge scam flees to Dubai, LOC issued
Hindustan Times Thane
|January 23, 2025
The Economic Offences Wing (EOW) of the Mumbai police has issued a Look Out Circular (LOC) against one of the partners and the main accused in the Moneyedge Group cheating case in which around 3,000 investors were allegedly cheated of ₹100 crore by the Mulund-based consultancy firm.
MUMBAI: The police said that two partners had been arrested, the third had approached the court for pre-arrest bail while the fourth had fled to Dubai.
"We have issued an LOC against Rajeev Jadhav, a Nashik resident who we believe has fled to Dubai," said a police officer. "Jadhav was instrumental in setting up Moneyedge in 2013 with Hariprasad Venugopal—both used to work in a financial institution and resigned to start the company along with civil engineer Pranav Raorane and Priya Prabhu. Prabhu was a postal department employee who took voluntary retirement from her government job to join Moneyedge and brought her investors with her."
This story is from the January 23, 2025 edition of Hindustan Times Thane.
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