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A 28-year-old woman, resident of Rabodi area here, in her police complaint said the accused had convinced her as well as her mother and sister to invest in their construction firm based in Mumbai’s Bandra area, promising significant returns.
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The woman’s family then took loans from different sources to invest the money into the construction firm, he said.
However, when her family sought the invested amount back and the profits in May this year, the accused refused to pay the sum and threatened them, boasting of their high-level connections, the official said.
The woman filed a complaint, based on which a case was registered against the two accused on Monday under Indian Penal Code sections 420 (cheating), 406 (criminal breach of trust), 506 (criminal intimidation) and 34 (common intention), and provisions of the Maharashtra Protection of Interest of Depositors Act, the official said