Company directors in Thane, Maharashtra, are under investigation for allegedly defrauding investors of over Rs 4.31 crore through fraudulent investment schemes promising high returns.
Key Points
- A company and its directors in Thane are accused of defrauding investors of over Rs 4.31 crore.
- The company allegedly lured investors with promises of attractive returns between 2017 and 2022.
- The Economic Offences Wing (EOW) is investigating the alleged investment scam.
- The case is registered under the Maharashtra Protection of Interest of Depositors (MPID) Act.
- Investors are urged to exercise caution and due diligence when considering investment opportunities.
Police in Maharashtra's Thane district have registered a case of alleged fraud involving over Rs 4.31 crore against a company and its directors for duping investors through various schemes, officials said on Friday.
The Economic Offences Wing (EOW) of the city police has launched a probe into the alleged scam, they said.
Details of the Alleged Investment Fraud
According to police, the accused allegedly lured investors between 2017 and 2022 by offering various investment schemes with "attractive" returns.
After collecting large sums, the accused allegedly failed to return both the promised returns and the principal amounts upon maturity, police said.
One investor has alleged a loss of Rs 24.82 lakh, while the total amount involved in the fraud, including other investors, is estimated at Rs 4.31 crore, police said.
Investigation Underway
The case has been registered under the Maharashtra Protection of Interest of Depositors (MPID) Act based on a complaint lodged on April 13, they said, adding that the EOW has launched a probe into the matter.
