The police are on the lookout for a Bunty-Babli couple who had allegedly floated a bogus investment company and especially targeted female investors to put money in their schemes. At least 21 women have lost Rs 44.45 lakh by investing in the money doubling schemes of the accused persons.
According to the police, the complainant in the case is Hira Yadav (62), a resident of Airoli, Navi Mumbai. In 2014, Yadav, through a relative, had learnt about a real estate company run by one Saroj Kale and her partner Raj. The company was running two investment schemes.
On an investment of Rs 1000 per month for three years, the company assured Rs 50000 return and in another scheme, the company promised double the investment after 42 months. In February 2014, the victim had met Saroj and Raj in Court Naka area of Thane where the accused persons explained their investment schemes to the victim, police said.
"In June, the victim had handed over cash Rs 9 lakh and had invested in the money doubling scheme floated by the accused persons' company. Next month, the accused persons gave a certificate of Rs 18 lakh to the victim at their office situated in a mall at Kapurbawdi," said a police officer.
He added, "When the victim and her family enquired with the accused persons about their business model, the accused told them that they purchase land from the money invested by the investors and later sell the property on higher rates. The accused further claimed to the victim that after taking their share of profit, they give the promised return to the investors after 42 months."
In March 2018, at the time of maturity of investment, when the victim enquired with the accused persons about their returns, the accused started avoiding her and stopped receiving her calls. "When the victim visited the company's office she found several other women had stormed at the place to take their money. As per the victim, at least 20 more women have lost their money in the fraudulent schemes of the company and collective fraud is of Rs 44.45 lakh," the officer said.
The police on Thursday registered a case under sections 34 (common intention) and 420 (Cheating and dishonestly inducing delivery of property) of the Indian Penal Code and sections 3 (fraudulent default by financial establishment) of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act.
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