More than two dozen people were duped in the name of providing partnership in a firm at Model Ground under Shahjehanabad police station area. A case was registered on Sunday.
Police said that the victim Mohammad Amir was duped to the tune of Rs11 lakh by the accused Aftab and Iqbal.
The victim met the accused Aftab Ahmed in the year 2014 who offered him partnership in a new firm and later introduced him with Iqbal. The two entered an agreement for starting a new firm but it never took place and the victim was not provided with the return.
The victim in his complaint stated that whenever he demanded return of money he was threatened of life.
The accused runs Victor Engineering Works and in the name of starting a new firm and offering partnership victims were duped from the range of Rs5 lakh to Rs2 crore.
The number of victims which was found in the initial investigation was around 100 and the amount which was duped was around Rs10 crore.
Among other victims Ameen sold his house to partner the accused. Another victim Sajid Khan who lives in Saudi Arab was acquainted with the accused and was assured as the firm was operational for past 40 years would not cheat and provided money to the accused.
Based on the complaint after the preliminary investigation the police have registered a case under section 420, 406 and 506 of the IPC and have started search for the accused.