Kishore Kakde, who cheated more than 2 lakh investors of over Rs 150 crore, is originally from Pune. In 2019, he registered his company in Borivli and travelled to Mumbai often. But, when his Ponzi schemes took off, he moved to the city and hired bouncers to keep his victims—poor, daily wagers—at bay, said police sources. 

Instead of renting a house in Mumbai, he moved to Hotel Sampoorna in Malad West over a year back, said police sources. Fifteen bouncers were posted outside the hotel round the clock to keep him safe from the investors whom he had cheated with the promise of lucrative returns.