75 investors duped of Rs 3.61 crore in Nagpur

As many as 75 people in Nagpur were allegedly duped of more than Rs 3.61 crore by a private investment firm which collected money promising them huge returns, but reneged on its assurance, police said on Tuesday.

Seven people, including directors and employees of the company, were booked after the fraud came to light, they said.

A police official said one of the 75 victims, aged 40, lodged a complaint that the accused promised him and other investors 30 per cent to 40 per cent returns on their investments.

Between November 1, 2021, and April 11, 2022, he invested Rs 10 lakh in schemes launched by the company, the complainant told the police.

In all, the victims invested Rs 3,61,74,000 in different schemes of the company expecting high returns, the police said.

However, the accused neither returned the principal amount nor the promised interest to investors, they said.

The police have registered a case under relevant sections of the Indian Penal Code and the Maharashtra Protection of Interest of Depositors Act against the accused persons. PTI COR RSY RSY