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

Nitin Parte and Deepak Surve, directors of Navi Mumbai import-export company, were arrested on Friday, along with Sachin Bhise from management

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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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