Three employees of investment firm booked for cheating senior citizen

An offence has been registered against three employees of an investment company for allegedly cheating a senior citizen of more than Rs 75 lakh in Maharashtra's Thane district.

Based on a complaint lodged by the 69-year-old man, a case under section 420 (cheating) and other relevant provisions of the Indian Penal Code and Information Technology Act was registered on Thursday, said an official from Shivaji Nagar police station in Ambernath.

The victim has alleged that three employees of the investment firm had wooed him with promise of lucrative returns if he invested through demat accounts and in Forex, he said.

The victim opened a demat account with the company and between July and August 2022 made investments worth Rs 75.93 lakh, for which he did not get any returns and the accused also allegedly failed to give him back the invested sum, the official said.