Mumbai News: 60 People Conned Of ₹6 Cr In Fake Investment Scheme

Mumbai: Around 60 individuals were conned of nearly Rs 6 crore by three people under the banner of Mahakali Co-op Credit Society, promising tripled investments. In an investment meeting, the accused, Ritesh Panchal, Sandeep Manjrekar, and Sunil Mulye, claimed having 13 subsidiary companies that offered lucrative investment plans.

Nearly 60 people invested in their companies, including the complainant, Smita Rane, who invested Rs 4 lakh. A case has been filed at Sakinaka police station under the relevant sections of IPC Act and Finance Act.