Thane, Jan 24 (PTI) A 47-year-old man from Navi Mumbai in Maharashtra has allegedly been cheated of Rs 24.05 lakh after being promised high returns in a scheme of purchase of kola nuts, police said on Wednesday.

The kola nut is rich in caffeine and acts as a central nervous system stimulant.

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The victim, hailing from Kharghar area, told the police that he was contacted by some persons, who presented a fake business deed purportedly from a UK-based pharmaceutical company.

The fraudsters lured the victim to invest in a scheme of purchase of kola nuts and promised him lucrative returns, an official from the Navi Mumbai cyber police station said.

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The victim made payments of Rs 24,05,000 to the accused over the last four-five months.

However, when he did not received the returns as promised and got evasive replies from those who lured him, he filed a complaint with the cyber police.

Based on the complaint, the police on Tuesday registered a case against seven persons under Indian Penal Code sections 419 (cheating by personation), 420 (cheating), 468 (forgery for purpose of cheating) and 34 (common intention) and were carrying out an investigation into it, the official 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)