Thane: The Economic Offence Wing of Thane police have arrested Leena Peter 42, the manager of VGN jewellers in a Ponzi scheme. The police during investigation found, to date around 14,340 investors have been cheated to a tune of Rs 298.96 crore.
The police Peter the manager was arrested on March 7. "She was produced in court and is remanded in police custody till March 11," said Prashant Sawant, police inspector, EOW, Thane.
The EOW team on October 5, 2021, have arrested Virith Gopalan Nair 76, the owner of the VGN jewellers. And his son Govind Nair 24 on December 2, 2021.
The police team investigating the case have seized 28 bank accounts of the firm and accused in 8 different banks to get Rs 24.18 lakhs. "We have seized different properties and lands at 5 different places worth 46 crore. Also, during the investigation, it came to light that Gopalan Nair had suffered losses of more than Rs 42 crore in share market investments," said a police officer.
The police during the investigation found the involvement of more than three accused who will be arrested.
The police said Nair and his wife Valsala had started a finance firm in Kalyan. They also had their jewellery stores in Dombivli, Ulhasnagar and Mulund and a finance firm in Kalyan. The owner of VGN jeweller had cheated many investors during the period 2006 to 2021. “Nair used to lure investors by asking them to invest Rs 500 per month. If a person paid Rs 500 for 24 months, Nair used to return the Rs 14,000 or gold ornaments. Similarly, in another scheme, he used to ask investors to go for a fixed deposit for 5 years. For the fixed deposit he used to give a return of 15 per cent, which was much higher than the bank rate,” said a police officer from the EOW.
The police said till the pandemic he was able to give the returns on time, as the flow of the new investors was good. Later as he lost, and stop giving the returns people approached the police to file a case.
A case was registered at the Kolshewadi police station in Kalyan under sections of the Indian Penal Code and relevant sections of the Maharashtra Protection of Interests of Depositors (MPID) Act. The case was then transferred to the EOW who are investigating the matter.
