Mumbai, August 16: A couple has been booked by the police for allegedly duping several of its investors to the tune of lakhs of rupees by promising lucrative returns on investment. So far, said the police, 46 people had lost Rs 69 lakh by investing in the forex trading scheme.
According to the Kapurbavdi police in Thane (W), the complainant in the case is NM Pawar (63), a retired engineer from the Water Resources Department of state government. In 2018, Pawar had come in contact with accused couple SP Palande and his wife Shraddha, both residents of Thane. Palande had told Pawar that he runs a consultancy company and invests money in forex trading.
"Palande had also told Pawar that on investment of Rs 1 lakh the investor would get Rs 5000 assured return per month. The victim was also informed that the money would be invested in the company's account and the company would deposit the return amount in the investor's account directly," said a police officer.
The victim and his family members then invested money in the scheme floated by the Palande couple. In 2018, the victim had received Rs 9.25 lakh and in 2019 Rs 3.20 lakh by investing in the scheme, police said.
"As per the complaint, the couple defaulted on paying returns from October 2019. When the victim confronted the couple, they started giving excuses and kept assuring to give returns at the earliest. Later the couple stopped responding to the calls from the investors and became untraceable," the officer said.
As per the complaint, between November 2018 and July 2020, the couple has duped 46 investors to the tune of Rs 69 lakh after which a criminal offence was registered in the matter on August 11 under sections 34 (common intention), 406 (Punishment for criminal breach of trust), 409 (Criminal breach of trust by public servant, or by banker, merchant or agent) and 420 (Cheating and dishonestly inducing delivery of property) and section 3 (fraudulent default by financial establishment) of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act.
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