Thane, Oct 17 (PTI) Police have registered an FIR against two persons for allegedly cheating an onion trader from Navi Mumbai of Rs 2.07 crore after assuring him good returns on investment in export of the key kitchen staple, an official said on Tuesday.

With the promise of good returns, the accused allegedly made the trader invest Rs 2.36 crore in the export business, the official from CBD Belapur police station said.

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One of the accused, from Mulund in neighbouring Mumbai, later exported onion worth Rs 3.20 crore to Dubai and allegedly got payment through 'hawala' (illegal money transfer system). Out of the proceeds, the accused gave Rs 29 lakh to the trader, he said.

The trader approached the police with a complaint alleging that he was cheated of Rs 2.07 crore.

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Based on the complaint, an FIR was registered on Monday against the Mulund-based accused and his associate from Mira Bhayander area here under Indian Penal Code sections 420 (cheating), 406 (criminal breach of trust) and 34 (common intention), the police said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)