The police have registered a criminal offence against a man for allegedly defrauding his investors to the tune of Rs 1.56 crore, by inducing them to invest in his lucrative schemes.
According to the police, in November 2018, the victim had learnt about a jeweller at Kalyan, that assured 15 to 18 percent returns on investment.
"The victim and his family members had invested Rs 2.50 lakh in the gold scheme provided by the accused. When the victim visited the jewellery store in October last year, he learnt that the accused had shut down his operations," said a police officer.
He added. "The victim then tried contacting the jeweller, but when all his contact numbers remained out of service, the victim realised that he had been duped and approached the police."
On reaching the police station, the victim learnt that several other persons who had invested their money in the schemes floated by the accused, too had lost their money, police said.
At least 26 investors, including the victim, had lost a total of Rs 1.56 crore in the fraudulent investment scheme. The police have registered a case under sections 406 (Punishment for criminal breach of trust) and 420 (Cheating and dishonestly inducing delivery of property) of the Indian Penal Code and section 3 (fraudulent default by the financial establishment) of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act in the matter.
"All efforts are being made to trace the accused involved in the fraud. Preliminary information gathered from the investors had revealed that the accused had another branch at Mulund and also had operations in Gujarat, Kerala and Tamil Nadu," the officer said.
