Maharashtra: Financial firm director held for duping over 100 investors of ₹18 cr
Premium- A man, identified as Sunil Sarode, and his wife Manisha Sunil Sarode floated a company with the promise of high returns to investors
The director of a financial company has been arrested by the Thane police for allegedly duping more than 100 investors to the tune of ₹18 crore by luring them with lucrative returns on investments.
A man, identified as Sunil Sarode, and his wife Manisha Sunil Sarode floated a company with the promise of high returns to investors, according to a PTI report.
But, after people invested in the company, they neither got the promised returns nor their invested amount, inspector Siddharth Gade of the police's economic offences wing informed.
Later, some people approached the Kolsewadi police, who registered a case against the couple under relevant provisions of the Indian Penal Code and the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, he said. During the probe conducted so far, it has been found that the accused allegedly duped 105 investors to the tune of ₹18 crore, the report said.
Based on a tip-off, the police has arrested the accused woman, who was the firm's director, from Aurangabad on Monday, while search for her husband was on.
With agency inputs
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