Maharashtra: Four booked for cheating investors of Rs 9.19 cr in Thane

The accused had allegedly floated an investment company and wooed investors by promising them good returns in the share market, an official from Kalwa police station said

An offence has been registered against four persons for allegedly cheating investors of Rs 9.19 crore in Maharashtra's  Thane city, police said on Saturday.

The accused had allegedly floated an investment company and wooed investors by promising them good returns in the share market, an official from Kalwa police station said.

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The accused had allegedly cheated 54 investors to the tune of Rs 9.19 crore over a period of six years, from 2017, he said.

A case under relevant sections of the Indian Penal Code and Maharashtra Protection of Interest of Depositors Act has been registered against the accused Sandhya Prafull Jaiswal, Prafull Jaiswal, Sachin Koumal and Padmini Koumal, the official said, adding that no arrest has been made so far.

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