Indore (Madhya Pradesh): City police booked seven persons of a real estate company and a cooperative society for duping people of 1.64 crores in the name of investment, police said on Friday. The accused had taken money from depositors promising a higher rate of interest than the banks.
The accused could not be arrested till the filing of the report.
Lasudia police station in-charge Santosh Dudhi said that a case under sections 420, 406, 409, 34 of the IPC and other relevant sections were registered against Amit Kumar, Shivkumar, Jagannath, Manish Kumar, Jaichand Jha, Jeevan and Ashok on a complaint by Sunil Singh Solanki, a resident of Bhawani Nagar area of the city. Solanki stated in his complaint that the accused had taken money from the investors and promised to give more interest than banks, but they didn’t return the money to them.
The accused have allegedly duped about 170 investors of Rs 1.64 crores in the past few years, through the two companies. The police have registered a case and started an investigation.
