7 booked for duping 22 investors of 44L in Thane

Thane: Atleast seven persons have been booked by the Naupada police for allegedly cheating 22 investors of Rs 44.4 lakh by promising them high returns.
A police officer quoting the complaint filed by the victim stated that the accused associated with a financial firm, which had its office at Naupada, accepted investments promising lucrative returns to investors. “Between 2021-2022, the accused floated different investments schemes, and lured investors by paying them lucrative returns as promised. However, later defaulted on the payments,” the officer said.
The company failed to pay returns and even the invested amount after which the complaint was filed, the police said, adding that the accused did not entertain the victims thereafter. However, the number of victims and the amount are likely to rise as the investigation progresses, said a police officer privy to the probe. An offence has been registered under IPC sections 420 (cheating) ,406 (criminal breach of trust), 409 (Criminal breach of trust by public servant, or by banker, merchant or agent and 34, and section 3 of Maharashtra Protection of Interest of Depositors (MPID) Act.