Thane police have arrested a financial company’s director for allegedly duping over 100 investors to the tune of Rs 18 crore by luring them with lucrative returns on investments, an official said on Thursday.

A man, Sunil Sarode, and his wife Manisha Sunil Sarode floated a company with the promise of high returns to investors. But, after people invested in the firm, they neither got the promised returns nor their invested amount, inspector Siddharth Gade of the police’s economic offences wing said.