The record
Written from the 1 report below. Nothing here is unsourced.
- Naupada Police in Thane have registered an FIR against the proprietor of a Thane-based investment firm for allegedly cheating 10 investors of over Rs 1.2 crore.
- The accused allegedly promised monthly returns of 6% to 12% through forex and share market trading over 11 to 12 months.
- A 47-year-old complainant who invested Rs 18 lakh received Rs 7.2 lakh before payments stopped and neither returns nor principal were refunded.
- The case, routed through the Economic Offences Wing, includes charges of cheating and criminal breach of trust under the Bharatiya Nyaya Sanhita along with the Maharashtra Protection of Interests of Depositors Act.
What to watch next
- Whether the accused is arrested or traced by police
- Identification of additional victims and the full extent of the fraud
- Tracing of funds through the firm's accounts ahead of the chargesheet
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1 report
English national1
All filed from India
Named India · Thane · Economic Offences Wing · Meenatai Thackeray Road · Naupada Police · Thane investment firm
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