Navi Mumbai: Case registered against eight for cheating Navi Mumbai man of Rs 65 lakh

In Maharashtra's Navi Mumbai, the police have filed a case against eight individuals accused of duping a man and his relatives of approximately Rs 65 lakh by enticing them to invest in stocks with promises of substantial returns.

The complainant, a resident of Kamothe, told the police that he and his kin were defrauded between 2019 and 2022, the official said. In a police complaint lodged on Friday, the individual stated that the accused, hailing from Bandra in Mumbai, convinced him and his relatives to invest in shares through their company, assuring them of significant returns. The victims collectively invested a total of Rs 65.1 lakh, as reported by the official.

However, when the victims asked for the gain on their investment and the principal sums, the accused became unreachable, said the station house officer of Kamothe police station quoting the complaint. The Kamothe police have registered a cheating case against the eight accused, he said, adding that no arrest has been made yet.