You are here: Home » PTI Stories » National » News
Business Standard

12 booked for duping man by promising good monetary returns

Press Trust of India  |  Thane (Maha) 

Twelve people were booked by the police in for allegedly duping a man of Rs 55.27 lakh by promising good returns on investments in mutual funds and other schemes, police said.

The main accused, Suryakant Tripati, got in touch with the victim and claimed had good influence in the insurance regulatory body and that he could get him good returns through investments in various schemes, police said.

Getting lured by the offer, the victim invested around Rs 55.27 lakh in several schemes through various financial advisers (agents) introduced to him by the accused between March 2015 and December 2017, she said.

However, when the man did not get any return as promised, he realised that he was cheated and approached the police on Sunday, she said.

Based on his complaint, the police registered offences against Tripathi and 11 financial advisers under IPC sections 420 (cheating), 406 (criminal breach of trust), 120B (criminal conspiracy), and other sections pertaining to forgery, Narkar said.

No arrest has been made so far, she said, adding that a probe was underway.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 08 2019. 12:45 IST