Three of Navi Mumbai firm held for alleged Rs 26 crore investment scam

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Two directors and a management member of an import-export firm in Navi Mumbai were nabbed on Saturday for allegedly scamming investors in Maharashtra of Rs 26 crore, according to police sources.

According to an official, the authorities filed a case based on a complaint under the applicable sections of the IPC, the Prize Chits and Money Circulation Schemes (Banning) Act 1978, the Banning of Unregulated Deposit Schemes Act 2019, and the Maharashtra Protection of Depositors' Interests (In Financial Establishments) Act 1999, reported PTI.

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According to the report, Nitin Parte and Deepak Surve, directors of the import-export company, were arrested on Friday, along with Sachin Bhise from management, according to assistant police inspector Nileshkumar Mahadik of the APMC police station. Another accomplice is still at large.

It is claimed that from March 2022, the accused have defrauded victims by luring over 300 people from various regions of the state to invest in their business. Their alleged business involves purchasing spices and dry fruits directly from growers and exporting them, PTI report added.

The accused reportedly promised investors a 5 per cent monthly interest rate and promised to reimburse the investment after 11 months. According to officials, they did not fulfil these pledges and instead issued dishonoured cheques.

In a recent incident in the Dombivli area of Thane district, three silver idols worth Rs 40,000 were allegedly stolen from the Shiva temple in Bhoirwadi, Khambalpada, around 1 pm on Thursday. An unknown woman is suspected of committing the theft.

Following the event, the temple caretaker filed a complaint with the Tilak Nagar police station in Dombivli East, which resulted in the registration of a case against the suspect under Indian Penal Code (IPC) section 379 for theft. The stolen idols weigh 450 grammes total, and police are working to apprehend the suspected woman as investigations continue, stated another PTI report.

Meanwhile, Mumbai Customs at Chhatrapati Shivaji Maharaj International Airport (CSMIA) confirmed the confiscation of more than 2.99 kg of gold worth Rs 1.72 crore in five distinct occurrences between March 14 and 15. According to an ANI report, the gold was secreted in a variety of ways, including inside dates, bodily cavities, and on passengers' bodies.

This new seizure follows an earlier operation from March 10-12, when Mumbai Customs recovered over 4.22 kg of gold, as well as mobile phones and laptop computers, in eight distinct cases at the airport. The items confiscated in the last investigation included various gold jewellery, gold hooks, Samsung and iPhone mobile phones, and Dell laptop computers hidden in handbags and check-in bags, the ANI report added.