2 construction firm owners booked for cheating Thane family of Rs 1.2 cr

Police have registered a case against two owners of a construction company for allegedly cheating a family of Rs 1.2 crore in Maharashtra’s Thane district, officials said on Wednesday.

 

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.

 

On December 31, 2022, the two accused, who are brothers, allegedly persuaded her family to invest Rs 1.20 crore with the assurance of a payout of Rs 3 crore in five years or, alternatively, the option to receive two or three flats in Bandra, a Rabodi police official said.

 

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