A 49-year-old Vikhroli resident who wanted to invest for his children’s education and marriage had lodged a police complaintafter losinghis savings in an investment fraud.
The victim had invested Rs 2.50 lakh with a credit society on the promise of double returns. The society however, defaulted.
According to the Parksite police, a cooperative credit society was run in the building where the victim stays and one of the office-bearers told him in 2011 he would get better returns on investing in the society.
In June 2011, the victim invested Rs 50,000 in a fixed deposit scheme and was promised Rs 1 lakh after five years and ten months. After receiving the return, the victim decided to re-invest the money in the scheme and added Rs 1.50 lakh. He was to get his returns in 2020-21.
However, after the pandemic, society suffered a financial crunch. The victim kept demanding his money but the society officials kept avoiding him. The victim later found out that the society was unregistered and so approached the police.
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