Police Arrest Duo in Rs 3.2 Crore Investment Scam

Two men in Maharashtra's Gondia district were arrested for allegedly swindling Rs 3.2 crore from four individuals by promising high returns on investments. Police suspect more victims will step forward. The accused, Kisan Pande and Kanhaiyalal Pande, are in custody until June 19.

Police in Maharashtra's Gondia district have detained two men accused of defrauding four individuals out of Rs 3.2 crore by falsely promising attractive investment returns, an official disclosed on Wednesday.

Authorities believe more victims may emerge with similar complaints against the suspects, Kisan Pande (21) and Kanhaiyalal Pande (24), both residents of Baniya Mohalla in the Amgaon tehsil.

The four identified victims were conned between June 2021 and December 2023, according to police. The perpetrators allegedly invited the victims to invest in share trading with the promise of monthly returns of 7-8 percent. Despite collecting a substantial sum of Rs 3.19 crore, the criminals did not return any money. The accused are currently in police custody until June 19, the officer said.