Mumbai: Six men were arrested by Turbhe MIDC police on September 29 for duping people with a modus operandi using a new investment returns scheme. In this scheme, the accused lured investors with an attractive returns of 400 per cent, with 1 per cent per day and have duped over 5,170 investors of Rs 18.29 crore.
The six arrested accused were booked under relevant sections of the Indian Penal Code and Information Technology Act.
The accused had lured the investors with attractive but illegal schemes and offers like getting 400 per cent returns after 400 days on the amount they invested.
The customers could invest any amount between Rs 3,000 and Rs 10 lakh, but would be given a receipt in the form of a memorandum of understanding (MoU) only if they invest more than Rs 1 lakh.
The main accused people — Ravi Ramkumar Verma and Ganesh Bhavnam — had used a multi-layer marketing plan and asked customers to invest and then get the benefits.
Turbhe MIDC police received a tip-off about an event in Lonavala where a meeting-cum-seminar, promoting a ‘Diwali Dhamaka Scheme’ for investors was organised at a hotel.
Police raided the premises and arrested six people, identified as Bhavnam, Lonachan Kuriapuram, Kishor Rokade, Ankush Aher, MS Ramesh and Ramesh Mane.
Police seized the documents, laptops and computers from the spot and learnt that they operated from an office located at S K Wheels building near Turbhe MIDC.
Investigation revealed that the accused had approached over 10,240 people to invest in the scheme and over 5,170 people fell to the con, investing a total of Rs 18.29 crore.
As promised in the investment scheme, the accused had returned Rs 1.48 crore to 3,426 investors. Police also seized Rs 97,000 in cash and learnt that they had 33 accounts, some of which were fake.
Navi Mumbai Commissioner of Police Sanjay Kumar said, all the accused have criminal cases registered against them, which brings to a collective number of 18 cases.
“Till now five investors have come forwards and recorded their statement and the modus operandi to lure customers was to offer a higher rate of interest than what the nationalised and private banks are offering,” said CP Kumar.
The company had allegedly tied up with SK group, whose two directors are under police scrutiny to ascertain their role.
