Navi Mumbai man cheated of Rs 30 lakh in name of investment trading

Two persons have allegedly cheated a 37yearold man from Navi Mumbai of Rs 30 lakh under the pretext of good returns by investment in shares police said on Thursday reported news agency PTIThe accused fatherson duo assured 20 per cent returns per month to the man resident of Uran area and made him invest Rs 30 lakh in shares in August this year an official from Uran police station said reported PTIWhen the man did not get any returns as promised he filed a police complaint against the two persons reported PTIBased on the complaint the police on Tuesday registered offences against the accused under Indian Penal Code sections 420 cheating 406 criminal breach of trust and 34 common intention the official said reported PTIIn another case police have registered a case against a man and his parents in Navi Mumbai for allegedly running an investment firm illegally and cheating four investors to the tune of Rs 5208 lakh by assuring them high returns an official said on Thursday reported news agency PTIThe accused from Uran area in Navi Mumbai accepted deposits from the four victims between January and April this year while promising to get their money doubled in 30 days the official from Uran police station said reported PTIAccording to the official the accused operated the investment business without due permission from the government and the Reserve Bank of India reported PTIFollowing a complaint by the victims the police registered offences on Wednesday against the three accused under relevant provisions of the Indian Penal Code the Prize Chits and Money Circulation Schemes Banning Act and the Banning of Unregulated Deposit Schemes Act he added reported PTIMeanwhile police have registered a case against a man for allegedly demanding Rs 10 lakh as protection money from a real estate developer at Belapur in Navi Mumbai an official said on Thursday reported PTIThe accused approached the victim on December 17 and sought the money to allow him to continue his business reported PTIWhen the victim did not pay heed to the demand the accused threatened him with dire consequences the official from Nerul police station said reported PTILater the accused poured petrol at the entrance door of the victims house and attempted to set it on fire the police said quoting the victims complaint reported PTIThe police registered a case against the accused on Tuesday under Indian Penal Code sections 387 putting person in fear of death or of grievous hurt in order to commit extortion 504 intentional insult with intent to provoke breach of peace and 5062 criminal intimidation reported PTIA probe was on into the case the official said reported PTIWith inputs from PTI