Land Investment Scam Uncovered in Maharashtra: Seven Accused in Rs 64 Lakh Fraud

Seven individuals, including a woman, have been implicated in a land investment scam in Thane, Maharashtra. Promising false returns, they allegedly duped investors of Rs 64 lakh. When inquired, victims received no response, leading to a police investigation under various charges, including cheating and criminal breach of trust.

Thane, Maharashtra - In a startling case of financial deception, police have registered a case against seven individuals for allegedly defrauding investors by promising attractive returns on land investments totaling Rs 64 lakh. The accused, including a woman, purportedly posed as representatives of an investment company.

According to the police, the group attracted victims with a bogus scheme launched in September 2023, offering land plots in places like Kevni Dive, Kalher, and Bhiwandi. The promised plots, however, never materialized, and when investors sought refunds, they allegedly faced silence from the scammers.

The Kapurbawdi police officials have filed the case based on a complaint from a young man from Kandivli and have invoked sections related to cheating, criminal breach of trust, and the Maharashtra Protection of Interest of Depositors Act. A detailed probe aims to uncover additional victims and further the investigation into the roles of each accused.

(With inputs from agencies.)