India News | Case Against 3 Persons in Navi Mumbai for Duping Investors of Rs 52 Lakh

Thane, Dec 21 (PTI) Police have registered a case against a man and his parents in Navi Mumbai for allegedly running an investment firm illegally and cheating four investors to the tune of Rs 52.08 lakh by assuring them high returns, an official said on Thursday.

The accused, from Uran area in Navi Mumbai, accepted deposits from the four victims between January and April this year while promising to get their money doubled in 30 days, the official from Uran police station said.

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According to the official, the accused operated the investment business without due permission from the government and the Reserve Bank of India.

Following a complaint by the victims, the police registered offences on Wednesday against the three accused under relevant provisions of the Indian Penal Code, the Prize Chits and Money Circulation Schemes (Banning) Act, and the Banning of Unregulated Deposit Schemes Act, he added.

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(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)