Investment Company, Two Employees Booked For Duping Investors Of ₹62 Lakh


The police have booked an investment company and two of its officials for allegedly defrauding over 30 investors to the tune of over ₹62 lakh by inducing them to invest in fraudulent lucrative schemes.

According to the police, the complainant, a resident of Boisar had come across an advertisement banner about an investment company in September 2021.

Promises of Lucrative Investment Schemes

The victim and some of his office colleagues contacted the number given in the advertisement and they were told by the company official that the company has offices in Thane and Satara. The official informed them about various investment schemes run by the company and promised lucrative returns on investment.

In October last year, the company organised a workshop and around 50 interested investors attended the workshop, police said.

Defaulting on Returns and Realization of Widespread Fraud

After the workshop, the investor decided to invest in the company and till March this year, the victim had invested a total of Rs6.25 lakh and received Rs1.25 lakh returns, but later the company began defaulting on giving returns to its investors.

Later the victim realised that, like him, 31 other investors had totally lost Rs62.34 lakh in the company. They then approached the police and got a case registered in the matter on Monday.

Charges Filed Against the Company and Officials

The case has been registered under sections 34 (acts done by several persons in furtherance of common intention), 406 (punishment for criminal breach of trust) and 420 (cheating and dishonestly inducing delivery of property) of the Indian Penal Code and section 3 (fraudulent default by the financial establishment) of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act.

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