Mumbai: The Navghar police have booked three people including a couple on alleged charges of operating a Ponzi scheme. The accused duped several people to the tunes of lakhs promising high returns on investments. As per the police the prime accused D Kudalkar has been arrested while his accomplices are still at large.
Police acted on Antop hill resident Imran Khan’s complaint. Imran is one of the victims along with several others who were collectively duped of 35 lakhs.
The accused floated a company with an office in Bhayandar East. They tricked people into investing money and promised astronomical returns as high as 72 per cent.
The accused convinced the victims that they will use the funds for investments in share trading. The modus operandi also involved sharing some “profits” to win the confidence of depositors initially and help them build a pyramid of investors.
A case under the relevant sections of the IPC and the Maharashtra Protection of Interests of Depositors (In Financial Establishments) Act, has been registered against the accused who was remanded to custody till 4, March.
