Police have registered a case against nine people for allegedly cheating a 42-year-old woman and others of Rs 2.97 crore in Navi Mumbai after promising them high returns in various investment schemes, an official said on Monday.
The woman, a resident of Seawoods area of Navi Mumbai town, reported the incident to the police on Sunday.
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The defendant invested the woman’s and other victims’ funds in stocks and purchased movable and immovable property over the past three years, the news agency reported. PTI an official from Sampada police station said.
However, he said the defendants failed to provide any proceeds or return invested funds to the victims.
Based on the complaint lodged by the woman, the police filed a complaint under the Indian Penal Code, the Bonus and Currency Circulation Schemes (Prohibition) Act, the Prohibition of Unregulated Deposit Schemes Act and the Maharashtra Protection Act. According to relevant regulations, 9 people were placed under investigation. Depositors’ Interest (Financial Institutions) Act.
Police said the case is under investigation.
(with PTI input)
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