India News | Maha: Three Held for Duping People of Rs 65.8 Lakh in Ponzi Scheme
Get latest articles and stories on India at LatestLY. An offence has been registered against three people for allegedly duping people of more than Rs 65 lakh in a ponzi scheme in Maharashtra's Nagpur city, police said on Sunday.
Nagpur, Mar 26 (PTI) An offence has been registered against three people for allegedly duping people of more than Rs 65 lakh in a ponzi scheme in Maharashtra's Nagpur city, police said on Sunday.
The accused had allegedly collected Rs 65.82 lakh from several residents of Tajbag and Hasanbag areas of the city between December 2022 and January this year, an official said.
They promised to double the invested amount every month and had initially extended some benefits to a few persons but later started defaulting, he said.
Based on a complaint, a case under sections 420 (cheating) and other relevant provisions of the Indian Penal Code has been registered against the trio, the official added.
(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)