Thane: 4 booked for duping businessman of Rs 48 lakh on promise of higher returns on investment

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Police in Maharashtra's Thane has registered a case against four persons for allegedly cheating a businessman of Rs 48 lakh, an official said on Saturday. The case was registered at the Naupada police station on Thursday on the basis of the complaint lodged by the 49-year-old victim, he said.

"Between December 2020 and January 2021, the accused made the victim invest in their trading company on the promise of lucrative returns. The victim invested Rs 57 lakh into it. But after his persistent follow-up, he was given back Rs 9 lakh of his invested amount, although the remaining Rs 48 lakh as well returns on his investment were never paid to him," PTI reported quoting a police official.

When he realised that the accused had cheated him, he approached the police and lodged the complaint, he added.

The accused, identified as Jasmeet Singh, Sharmin Ansari, Sandeep Gaikwad and Vivek Kadam, were booked under Indian Penal Code (IPC) sections 420 (cheating), 406 (criminal breach of trust) and 34 (common intention), he said.

Meanwhile, authorities in Thane district have initiated a widespread search for six individuals who, after booking a cab, reportedly assaulted the driver and made off with the vehicle, along with his personal belongings and cash. The incident transpired on Wednesday when the victim, a driver named Abdul Sayyed Ren (aged 38), affiliated with an app-based taxi service, accepted a booking from Badlapur to Thane, according to his official complaint.

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According to the PTI report, as the journey progressed and the vehicle neared an isolated area adjacent to the Ulhas River, the six passengers allegedly turned hostile, launching an attack on the driver, forcefully seizing his mobile phone, cash, and ultimately absconding with the car. Law enforcement officials have estimated the total value of the robbery, including the cost of the stolen vehicle, at a staggering Rs 8.11 lakh.

The Badlapur West police have acted swiftly, registering a case under the Indian Penal Code sections 395 (dacoity) and 397 (robbery or dacoity with an attempt to cause death or grievous harm). However, as of now, no arrests have been made in connection with this case, a police official told PTI. (Agencies)