Mumbai Investment Fraud: 20 Victims Duped of Rs 12.7 Crore

The Mumbai police have filed a case against three individuals accused of defrauding around 20 people of Rs 12.7 crore by promising lucrative investment returns, as reported by a Kandivali resident who was also a victim.

The Mumbai police have registered a case against three individuals for allegedly defrauding approximately 20 people of Rs 12.7 crore by luring them with promises of 'attractive' investment returns, according to an official statement made on Wednesday.

The First Information Report (FIR) was lodged following a complaint from a senior employee of a private company residing in Kandivali. The complainant revealed that an acquaintance persuaded him last year to invest a significant sum by guaranteeing attractive returns. However, despite multiple follow-ups, the returns were never delivered, and the acquaintance avoided further contacts.

On approaching the Dahisar police station, the complainant discovered the extent of the fraud, realizing that nearly 20 others had also been victimized. A case against the three culprits has been initiated, and an investigation is currently underway, as confirmed by the police official.