Four Booked For Duping Businessman Of Rs 48 Lakh On Promise Of Higher Returns On Investment

Police have registered a case against four persons for allegedly cheating a businessman of Rs 48 lakh in Thane city of Maharashtra, an official said on Saturday.

The case was registered at the Naupada police station on Thursday on the basis of the complaint lodged by the 49-year-old victim, he said.

“Between December 2020 and January 2021, the accused made the victim invest in their trading company on the promise of lucrative returns. The victim invested Rs 57 lakh into it. But after his persistent follow-up, he was given back Rs 9 lakh of his invested amount, although the remaining Rs 48 lakh as well returns on his investment were never paid to him,” the police official said.

When he realised that the accused have cheated him, he approached the police and lodged the complaint, he added.

The accused, identified as Jasmeet Singh, Sharmin Ansari, Sandeep Gaikwad and Vivek Kadam, were booked under Indian Penal Code (IPC) sections 420 (cheating), 406 (criminal breach of trust) and 34 (common intention), he said.