Archive · 8 Sep 2026
Thane Firm Directors Booked Over Alleged ₹7.09-Crore Investment Fraud
Police in Thane say six directors of an investment firm cheated many people.
The firm allegedly promised investors very high returns on their money.
A vada pav seller first invested ₹5,000 and later ₹3 lakh.
He was told he would receive 5 per cent interest each month.
The company delayed payments and eventually stopped its operations.
The seller was later asked to pay more money to recover his earlier investment.
He and other investors complained to the police.
Police said 68 people had reportedly lost a total of ₹7.09 crore.
Police booked six directors of a Thane-based private investment firm for allegedly cheating 68 investors of ₹7.09 crore.
Investors were promised monthly returns as high as 5 per cent on their deposits.
Victims said the firm delayed payouts, made them sign affidavits, issued cancelled cheques and later suspended operations.
A Malad vada pav vendor allegedly paid ₹5.37 lakh and an additional ₹80,550 under a new return plan.
The complaint was filed with Ramnagar police on Sunday after investors received evasive responses from the directors.
- Who
- Six directors of a private investment firm were booked after 68 investors complained.
- What
- Police registered a cheating case over an alleged ₹7.09-crore investment fraud.
- When
- The investments occurred over several years, beginning with the reported 2018 investment; the complaint was filed on Sunday, September 8.
- Where
- The alleged scheme involved offices and activities in Mumbai and Dombivli in Thane district, Maharashtra.
- Why
- The firm allegedly attracted investors by promising high monthly returns and later sought additional payments to recover locked investments.
- Accused
- Six directors of a private investment firm
- Reported victims
- 68 investors
- Reported loss
- ₹7.09 crore
- Promised return
- Up to 5 per cent monthly
- Reported tactics
- Delayed payouts, affidavits describing investments as personal loans, cancelled cheques and an operations suspension notice
- Earlier arrest
- The accused who ran the share-broking company was arrested in May 2023 in a separate investment-fraud case and later secured bail
- Reported amount discrepancy
- The article gives both a ₹7.09-crore total and individual losses ranging from ₹14 lakh to ₹84 lakh; those figures do not mathematically align when applied to all 68 investors.