Mumbai: The Vile Parle police have registered a case of cheating and criminal breach of trust against three officials of a cooperative credit society for allegedly duping at least 15 investors to the tune of Rs35.53 lakh. The society members had promised the investors 15% returns.
The complainant in the matter is a 61-year-old resident of Andheri. As per his complaint, one of his neighbours said he runs a credit society in Vile Parle and encouraged him to invest to earn good returns.
Trusting the lucrative scheme, the senior citizen, his family members and relatives invested Rs35.53 lakh over a period of several years. However, they did not get returns as promised and approached the police to get an offence registered on Tuesday.
The police have registered a case for breach of trust, cheating, dishonestly inducing delivery of property and fraud by a financial establishment under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act.