Four held for cheating investors of crores in Navi Mumbai

The Navi Mumbai police on Tuesdayarrested four persons, including a woman, for allegedlycheating several investors of crores by promising themlucrative returns, an official said.

A team from the crime branch raided the office ofVanita Enterprises in Navi Mumbai and arrested the fouraccused, who allegedly cheated at least 20 investors bypromising to double their investments in 20 months, theofficial said.

Neither did the accused pay investors their returns,nor did they return their money, he said.

The police have arrested director of the companyVanita Abhijit Patil (40), owner Abhijit Madhukar Patil (42),Mukund Ashok Puranik (39) director and manager Yogesh RajaramBilaye (48), the official said.

An offence under sections 420 (cheating) and otherrelevant provisions of the IPC and Prize Chits and MoneyCirculation Scheme (Banning) Act of 1978 and MPID Act has beenregistered against the arrested accused, he added.

According to the police, the accused have allegedlycheated close to 80 persons, including the 20 complainants, tothe tune of over Rs 2 crore and the amount is likely to go up.

PTI CORARU ARU

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