The Shirdi police have registered a case against Growmore Company, which allegedly duped investors by promising to double their money within a year. Deputy Superintendent of Police (DYSP) Shirish Wamne confirmed the development, stating that the company lured investors with the promise of high returns but failed to return the funds when the investment period ended.
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According to the police, Growmore Company collected substantial sums from individuals, assuring them that their investments would give back 100% returns in just 12 months. However, when the time came to repay the investors, the company reportedly refused to give its commitments. So far, around 21 investors have come forward, claiming a collective loss of approximately Rs 1.65 crore.
"They collected money from these investors, but when it was time to return the funds, they refused to do so. A case has been registered, and so far, around 21 investors have been identified who invested about Rs 1.65 crore," said Wamne.
Authorities have launched a thorough investigation and are working to identify additional victims who may have been victims of the scheme.