India News | NRI Cheated of Rs 59 Lakh in 'rice Puller' Scam; Four Booked
Get latest articles and stories on India at LatestLY. A 53-year-old chartered accountant was allegedly cheated of Rs 59 lakh by four men in the infamous 'rice puller metal' scam, Thane Police said on Wednesday.
Thane, Sep 27 (PTI) A 53-year-old chartered accountant was allegedly cheated of Rs 59 lakh by four men in the infamous 'rice puller metal' scam, Thane Police said on Wednesday.
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The victim is based in London and he visits India intermittently, according to the investigation officer.
Police have registered a case under various sections of the Indian Penal Code for cheating and other charges against the four men. No arrest has been made so far, the officer said.
The victim met one of the accused two years back at a hotel in Mumbai and they remained in touch.
"Later, the prime accused introduced the CA to three of his friends. They lured the CA into investing in rice pulling under the pretext of good returns. The victim paid them Rs 55 lakh in September 2022 and later Rs 4 lakh," the officer said quoting the FIR.
The victim realised that he was cheated when the quartet started ignoring him and he never received any returns on the money paid by him.
The rice puller metal, also referred to as ‘copper iridium', allegedly has rare powers and is used by aerospace organisations.
The scam involves luring people into the metal on the promise of good returns.
Further investigation is underway.
(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)