Palghar firm owner held over share trading ‘fraud’ of Rs 2.39 crore

Palghar, Jan 7 (PTI) A 36-year-old man from Maharashtra’s Palghar district has been arrested for allegedly duping 14 investors out of Rs 2.39 crore after luring them with high returns, an official said on Wednesday.

Accused Roshan Chandanlal Jain allegedly coaxed the investors to put money in the share market through his company based in the Boisar area, the official said.

Though Jain allegedly collected Rs 2.39 crore from the investors since 2022, his company never paid any returns on the money.

The Boisar police registered an FIR against Jain and arrested him on Monday after one of the investors filed a complaint, the official said.

Jain has been remanded in police custody, the official said, adding that the Economic Offences Wing is conducting the probe. PTI COR NR