A man and his parents are facing charges in Navi Mumbai for allegedly running an unlicensed investment company and defrauding four investors out of Rs 52.08 lakh.
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A man and his parents are facing charges in Navi Mumbai for allegedly running an unlicensed investment company and defrauding four investors out of Rs 52.08 lakh.
The defendant, who is from the Uran region, allegedly lured deposits from January to April of this year by promising investors that their money would double in 30 days, stated a report in PTI.
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According to the report, the group allegedly ran the investment scheme without the required approval from authorities such as the Reserve Bank of India (RBI). Following the victims' complaint, the police took action and filed charges against the three under the Prize Chits and Money Circulation Schemes (Banning) Act, the Banning of Unregulated Deposit Schemes Act, and the Indian Penal Code.
In another case from the city, the cops have booked a man for allegedly demanding Rs 10 lakh as 'protection money' from a real estate developer in Belapur, an official on Thursday told PTI.
According to the report, the accused approached the victim on December 17 and sought money to allow the builder to continue his business.
The accused threatened the man when he refused to pay heed to his demands; the accused told the developer that he would face dire consequences, police personnel attached to Nerul police station told PTI.
Reportedly, the accused poured petrol at the entrance door of the developer's home and attempted to set it ablaze.
The cops have registered a case against the accused under Indian Penal Code Sections 387 (putting a person in fear of death or of grievous hurt, to commit extortion), 504 (intentional insult with intent to provoke breach of peace) and 506(2) (criminal intimidation).
According to police on Thursday, two people allegedly defrauded a 37-year-old Navi Mumbai resident of Rs 30 lakh by promising him high returns on his share investment, according to news agency PTI.
According to a police station official in Uran, the accused father-son pair forced the man, who lived in the Uran area, to invest Rs 30 lakh in shares in August of this year after promising him 20 per cent returns every month, as PTI reported. According to PTI, the man filed a police complaint against the two after failing to receive the promised returns.
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