Thane senior citizen, others allegedly duped of nearly Rs 3 crore

A 64-year-old Thane resident and some of his acquaintances were allegedly cheated of nearly Rs 3 crore by a couple and another person on the promise of affordable housing and high returns from share trading, police said on Wednesday, September 2.

According to police, the accused lured the senior citizen with offers of flats at a low price and easy instalments in their housing project at Mankoli in Bhiwandi, Maharashtra's Thane district.

They also allegedly promised a monthly return of 12 per cent on investments made in share trading.

Trusting the assurances, the victim invested Rs 2.24 crore in his name and those of his relatives, an official from Naupada police station said.

However, the accused allegedly returned only Rs 1.06 crore to him over a period of time.

The accused subsequently used the same modus operandi to gain the confidence of the victim's acquaintances and allegedly cheated them of another Rs 1.79 crore, the official said.

Based on the victim's complaint, police registered an FIR against the three accused on August 31 under relevant provisions of the Bharatiya Nyaya Sanhita and the Maharashtra Protection of Interest of Depositors Act.

No arrests have been made in the case so far, police said.