The police have registered a case against two people, including the owner of a firm, in Maharashtra's Thane district for allegedly cheating 30 investors of nearly Rs 32 crore on the promise of large returns on investments, an official said on Friday.
The case was registered against Parag Thakker, the proprietor of Indo-Pacific Global Services Company, and its manager Sagar Chinnarampelli, he said.
"Between January 2022 and February 2023, the accused lured people into investing in their firm and promised to give 12 per cent returns on investments," the police official said, quoting the complaint.
"A total of 30 people invested money between Rs 50 lakh to a crore each in the company. The accused issued promissory notes to the investors and later gave them cheques. But the cheques bounced as the bank accounts were already frozen," he said.
On realising they have been cheated of Rs 31.95 crore collectively, the victims approached the police and filed a complaint, he added.
An offence under relevant Sections of the Indian Penal Code (IPC) for cheating, criminal breach of trust, and common intention was registered today, but no arrests have been made so far, the police said.
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