Thane: Man held for cheating investors by promising high returns on savings

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A 42-year-old man was arrested in Maharashtra for allegedly duping investors to the tune of Rs 17 crore by promising them high returns on their investment in dates trade and other schemes, police said.

An official of the Economic Offences Wing (EOW) said the accused Chetan Dand had floated a company in 2014 and wooed investors. He had also allegedly promised them to invest in the share market and other schemes. A case was registered after the accused failed to give returns on investment promised to hundreds of investors, citing various excuses, the official said.

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