Massive Investment Scam Uncovered in Thane

Authorities in Maharashtra's Thane district have registered a case of alleged fraud involving over Rs 4.31 crore. The investigation focuses on a company and its directors, accused of duping investors with schemes promising high returns. The Economic Offences Wing has begun probing the matter.

In Maharashtra's Thane district, police have charged a company and its directors with alleged fraud involving over Rs 4.31 crore, officials reported on Friday.

The Economic Offences Wing (EOW) is investigating after accusations emerged about the company deceiving investors with false promises of substantial returns between 2017 and 2022.

One investor reported losing Rs 24.82 lakh, adding up to a collective fraud case under the Maharashtra Protection of Interest of Depositors (MPID) Act, prompted by a complaint filed on April 13.

(With inputs from agencies.)