FIR against duo for duping 25 investors of Rs 1 crore

The Navi Mumbai police have registered a case against two persons for allegedly duping 25 investors of nearly Rs 1 crore after luring them with high returns, an official said on Wednesday. Collectively, the victims shelled out Rs 1.03 crore, he said.When the investors did not receive the promised returns as well as the principal, they approached the police.

The Navi Mumbai police have registered a case against two persons for allegedly duping 25 investors of nearly Rs 1 crore after luring them with high returns, an official said on Wednesday. Accused Sonali Chavan-Bhandare and Ashish Lwate allegedly cheated the investors since February 2022, he said.

The accused persuaded the victims to invest in a “gold coin” scheme through their company with the promise of lucrative returns. Collectively, the victims shelled out Rs 1.03 crore, he said.

When the investors did not receive the promised returns as well as the principal, they approached the police. The Kharghar police on Tuesday registered a cheating case against the duo, he added.