Thane: A startling investment scam has emerged in Thane, featuring a retired police officer and his friend, a physician, who collectively lost ₹1.44 crore. The two victims report that they were enticed into a share-trading scam by con artists who guaranteed exceptionally high profits.
The 67-year-old ex-police officer from Kalyan and his physician friend were persuaded to invest in firms supposedly involved in share trading. Initially, the scammers distributed minor returns, a strategy employed to establish trust and entice them to invest further. However, after a while, the payments abruptly ceased. When the two men requested their money to be returned, the scammers started evading calls and ultimately severed all communication.
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Upset by their losses and unable to retrieve their funds, the retired officer and the physician contacted law enforcement. On November 21, a case was filed at the Khadakpada police station. Local authorities are managing the investigation, currently examining bank transactions, investment papers, and communication records to track the money trail and find additional victims.
Authorities have registered charges under Section 420 (cheating) and Section 34 (common intention) of the Indian Penal Code, along with applicable sections of the Maharashtra Protection of Interest of Depositors (MPID) Act. Currently, no individuals have been apprehended, but authorities are striving to reveal the complete extent of the deceit.
This incident has stunned the local community. The former officer, who dedicated many years to public service, now finds himself a target of an intricate financial scam. His doctor friend also admits he never expected to lose such a significant amount, according to report by Midday. Authorities are encouraging individuals with similar situations to step forward, as they suspect there could be others who have been misled in comparable high-yield investment schemes.
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