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.