Investment firm owner booked for duping investors of Rs 91 lakh

PTI, Apr 22, 2023, 1:34 PM IST

Police have registered a case against the owner of an investment firm based in Maharashtra’s Thane city for allegedly cheating a security guard and his acquaintances to the tune of Rs 91 lakh, an official said on Saturday.

The firm has its office in Wagle Estate locality in the city, he said.

In his complaint, the victim said he, his friends ANDwere lured into investing in the firm by its owner, who promised attractive returns to them on their investment.

The complainant said he received return on the invested money between September 2022 and February 2023. However, after that he stopped getting it. When he asked the owner about it, the latter said he had invested his money into the stock market and he would soon start getting good returns.

”But after a few days, the victim learnt that the accused has shut the office and ran away. Having realised that he and his friends have been cheated, the victim approached the Srinagar police station and lodged the complaint on Friday,” the official said.

Based on his complaint, a case under various sections of the Indian Penal Code (IPC) and the Maharashtra Protection Of Interest Of Depositors Act was registered against the accused, and the police have launched a search to nab him.