Mumbai Fraud Case: Proprietor Booked For Cheating 30 People Of ₹6.10 Crore In Fake Investment Scheme

Shivaji Park police have booked a proprietor for cheating 30 people to the tune of Rs 6.10 crore in a fake share market investment scam.

Initially, police lodged one complaint by a 57-year-old man Devendra Mangaonkar alleging that a proprietor Amol Bhosale, son of a retired policeman told him that he would be given a 36 per cent profit if he invested in the share market and Mangaonkar invested Rs 5 lakh for the promised profit money.

According to Mangaonkar, initially, Bhosale gave him some money from the promised profit but stopped later. When Mangaonkar inquired, he came to know that Bhosale had made the same promises to other people as well and had taken money from them. They invested from March 2022 to July 2023.

A police officer said that so far 30 people have contacted him and complained against Bhosale for the same. The total amount he took from the people is Rs 6.10 crore.

A police officer said that on September 12, Bhosale’s father filed a missing complaint at Dadar Police Station alleging that his son dropped his wife at her father’s house and did not return home.

The case against Bhosale is registered under relevant sections of the Indian Penal Code and Maharashtra Protection of Interest of Depositors 1999 Act.