The Economic Offence Wing of Thane police have arrested a 35-year-old man for cheating investor's to a tune of Rs 5.54 crore. The police said the accused was caught at International airport after he was returning from Dubai. The police are in search of other seven accused involved in the matter.
The police said the arrested accused is identified as Manmohan Dilipsingh Ailasingani 35, a resident of Ulhasnagar in Thane.
On November 26, after the police found about him been fled away to abroad. A look out circular was issued against him by the investigation team.
On January 12, he return back at International airport and was caught by the police. "He was arrested and is in police custody. He claims to have been staying in Dubai and recently return back," said a police officer.
The police said the different accused or partners involved in the cheating included Sundar Bajaj, Lal Bajaj, Hirasingh Ailasingani, Feru Lula, Nandalal Lula and agents Gobinda Manchanda and Om Manchanda.
The police said the accused partners and agents asked around 43 citizens to invest in property like flats and shops developed by Sadguru developers. "The accused on the pretext of returning a higher return to the investments. Almost took around Rs 5.54 crore and cheated the investors. Each of the victim paid Rs 15 to 25 lakhs," said a police officer.
A case was registered on November 23, 2021 regarding the same with Central police station under section 406, 409, 420 and 34 of the Indian penal code.
The police said the accused lure the victim to pay an amount in the developing project. "Assuring high returns they use to gave an return for seven months. Later started delaying over the monthly returns. After the victim found about the cheating a case was registered and investigation was started," said a police officer.
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