Two held in Navi Mumbai for cheating investors on promise of high returns

Navi Mumbai Police have arrested two persons for allegedly cheating people by promising lucrative returns on their investment plans and recovered nearly Rs 19 crore from them, an official said.The accused were carrying Rs 9.99 crore cash in 10 suitcases in a cab when they were nabbed on Friday, while another sum of Rs 9 crore was recovered after freezing their bank account, he said. 

Deputy Commissioner of Police (Zone II Panvel) Pankaj Dahane told reporters on Saturday that the police took suo motu action (on their own) against the accused and seized the money. The police got information that the accused had sought investment worth crores from a number of people in a circulation scheme and promised them a return of 40 per cent within 50 days, but did not pay the money, he said.However, none of the victims from Pirkon and Bondkal villages came forward to file a complaint.The police held meetings in the villages to inform locals of such fake investments and asked them to file a complaint, but they were reluctant. The police then acted themselves and formed teams to nab the accused, the official said.