The accused persons floated an investment company and wooed people by promising 10 per cent interest p.m. on their investments, Deputy Commissioner of Police (EOW) Sunil Lokhande said
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The police in Maharashtra's Thane city have arrested two persons for allegedly cheating people of crores of rupees by promising them lucrative returns for their investment, an official said on Friday.
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The accused persons floated an investment company and wooed people by promising 10 per cent interest p.m. on their investments, Deputy Commissioner of Police (EOW) Sunil Lokhande said.
The accused persons did not pay any money to 19 investors and did not return the invested sum, he said.
The duo had allegedly cheated investors of over Rs 2.48 crore, following which an offence was registered against them with the Manpada police in November, 2011 under provisions of the IPC and MPDA Act.
Officials of the economic offences wing (EOW), which probed the case, on Wednesday arrested the accused Ankita Anil Golipkar, who is a director of the investment firm, and fund manager Pradeep Kate, the official said.
The main accused Divyesh Vilas Golipkar was still at large and the police have launched a manhunt for him, he said.
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