Massive Investment Fraud Unearthed in Navi Mumbai: Rs 2.97 Crore Lost, Nine Individuals Booked
Navi Mumbai, 30th January 2024: A 42-year-old woman hailing from Navi Mumbai, along with several others, has fallen prey to a fraudulent investment scheme that has resulted in a collective loss of ₹2.97 crore. The victims were lured in by the promises of high returns made by a group of nine individuals who claimed to be operating various investment schemes over the past three years.
The accused, now under the scanner of the Sanpada Police Station, allegedly convinced the victims that their funds were being wisely invested in shares and properties. However, despite assurances of lucrative returns, the victims soon realized that the promised profits were nothing but empty claims. The accused failed to deliver any returns and left the investors in financial distress.
Taking matters into her own hands, the woman from Seawoods, Navi Mumbai, complained to the local police. This courageous step led to the registration of a case against the nine individuals involved in the fraudulent investment scheme. Charges have been filed under various sections of the Indian Penal Code, the Prize Chits and Money Circulation Schemes (Banning) Act, the Banning of Unregulated Deposit Schemes Act, and the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act.
The accused are now facing serious legal consequences for their actions, with charges encompassing fraud, financial malpractice, and violation of multiple laws aimed at protecting investors. The police are pursuing a thorough investigation to ensure that the perpetrators are brought to justice.
