A court in Maharashtra's Thane district acquitted a social worker and her employee accused that they defrauded women out of Rs 39.74 lakh through an investment plan.
Special judge Premal S Vithalani held that the prosecution had failed to prove the charges against the accused under the Maharashtra Protection Of Interest Of Depositors (MPID) Act.
The court on August 30 acquitted Karishma Manoj Punamiya (35), the social worker who operated a monthly investment scheme, and her employee Rajveer Navratna Sharma.
According to the prosecution, Punamiya had collected Rs 1,000 from each investor under the scheme for 36 months and promised to pay back the collected amount of Rs 36,000 along with the interest of Rs 5,000 to each of them.
The accused had defrauded the investors to the tune of Rs 39.74 lakh and failed to return the money, it was alleged. The court, however, held that the prosecution had failed to prove the allegations against the duo.