The police have registered a case against two persons for allegedly floating bogus investment schemes and duping at least 26 investors to the tune of ₹1.52 crore on the pretext of promising them double returns on investment.
According to the police, the complainant, a civil engineer who resides in Khalapur, was contacted by a person in April 2022, who works as an agent with a Dombivali-based investment consultancy company. He knew the complainant for 30 years and informed him about an investment scheme.
'Three schemes"
The agent explained to the victim three schemes. The first plan stated that the investors have to invest at least ₹5 lakh and after investing the amount, the said amount will be doubled within 12 months. From next month after investment ₹50,000 will be returned for 10 months and after the end of 12 months, the principal amount of ₹5 lakh will be returned.
Another scheme stated that if ₹5 lakh is invested for 15 months then after 15 months the investors would get ₹15 lakh. The third scheme was for those who cannot afford to invest huge amounts in the first two schemes. As per this scheme, every month ₹20,000 is to be invested and after such eight consecutive months of investment and in the ninth month, the investor would get ₹2.40 lakh.
Victim lured with promises of share market profits
The complainant also met the proprietor of the investment company and was told that money taken from investors is invested in the share market and then profits are given to the investors. The victim agreed to invest ₹5 lakh in one of the schemes in May 2022. He received ₹50,000 as his first set of returns, but since then he has not received any money.
The victim then met the accused persons on a few occasions who kept promising to return the money. Later the victim realised that he had been cheated. He found out that apart from him, 25 other such investors had lost ₹1.47 crore in the bogus investment schemes floated by the accused persons.
A case has been registered by the police under Sections 34 (acts done by several persons in furtherance of common intention), 409 (criminal breach of trust by a public servant, or by banker, merchant or agent) and 420 (cheating and dishonestly inducing delivery of property) of the Indian Penal Code and sections 3 (fraudulent default by the financial establishment) and 4 (Attachment of properties on default of return of deposits) of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act.
