Mumbai crime: Father-son duo arrested for Rs 4 crore fraud
He cheated 60 people, promising them of high returns on investments
The Economic Offences Wing of the Mumbai police arrested a father-son duo for cheating 60 people of Rs 4 crores, by promising them of high returns on investments.
A report in The Times of India identified the duo as Parsottambhai Visavadiya (60) and Divyakant (38), who are residents of Vadodara in Gujarat. A lawyer had complained that the duo had promised him 48 per cent annual returns on investments.
An officer said that the father and the son were earlier arrested and jailed in a similar case.
They were brought to the city and produced before a special court set up under the Maharashtra Protection of Interest of Depositors (MPID) Act. The duo has been reprimanded to police till November 27. The police said that they are being interrogated in the matter.
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