Seven booked for duping investors of Rs 64 lakh by promising good returns on land investment

Thane, Dec 31 (PTI) Police in Maharashtra's Thane have registered a case against seven persons, including a woman, for allegedly cheating several persons to the tune of Rs 64 lakh by promising attractive returns on land investment, an official said on Wednesday.

The case was filed based on a complaint filed by a 28-year-old man from Kandivli in Mumbai and other unidentified victims, the Kapurbawdi police station in the Wagle Estate division of Thane.

"The seven accused have been identified as Kisanrao Rathod, Menka Rathod, Yugandhar, Santosh Pawaskar, Swapnil Begale, Avinash Narkar and another agent," an official of Kapurbawdi police station said.

As per the complaint, the accused allegedly worked as representatives of an investment company and floated a bogus scheme in September 2023.

"They lured investors by promising attractive returns and assured them of plots in areas such as Kevni Dive, Kalher and Bhiwandi. Advertisements were also published to promote the scheme," the officer said.

However, the promised plots never materialised. When the victims tried to contact the accused for clarification and refund of their money, they allegedly received no response, prompting them to approach the police.

"The total amount involved in the alleged fraud is Rs 64.56 lakh. A detailed probe is underway to ascertain the role of each accused and to identify other possible victims," he said.

The accused have been booked under sections 318(4) (cheating), 316(2) and 316(3) (criminal breach of trust), and 3 (5) (common intention) of the Bharatiya Nyaya Sanhita (BNS), along with provisions of the Maharashtra Protection of Interest of Depositors (MPID) Act, the official said. PTI COR NP