Case registered against eight for cheating Navi Mumbai man, his kin of Rs 65 lakh

Thane, Nov 11 (PTI) The Navi Mumbai police in Maharashtra have registered a case against eight persons for allegedly cheating a man and his relatives of nearly Rs 65 lakh after persuading them to invest in stocks promising high returns, an official said on Saturday.

The complainant, a resident of Kamothe, told the police that he and his kin were defrauded between 2019 and 2022, the official said.

In his police complaint on Friday, the man said the accused, all from Bandra in Mumbai, persuaded him and his relatives to invest in shares through their firm saying they would ensure high returns. The victims made a total investment of Rs 65.1 lakh, the official said.

However, when the victims asked for the gain on their investment and the principal sums, the accused became unreachable, said the station house officer of Kamothe police station quoting the complaint.

The Kamothe police have registered a cheating case against the eight accused, he said, adding that no arrest has been made yet.