Three men were arrested here on Thursday for allegedly duping at least 150 people by assuring hefty returns against their investment, police said.
The accused were operating from an office in Sector 18 of Noida and had named their company Migrow Life, police said.
"The trio had offered investment plans to people, asking them to invest Rs 55,000 in their company and get assured returns of Rs 468 for 300 days (approximately Rs 1.40 lakh)," a police spokesperson said.
When they failed to deliver, several people approached police, alleging fraud by the accused, identified as Anil Sharma, Pramod Verma and Gokul Bansal, the spokesperson said.
Multiple complaints were lodged at the Sector 20 police station.
An FIR was registered against the accused under Sections 406 (criminal breach of trust), 420 (fraud) and 507 (criminal intimidation) of the IPC, he said.
A computer system, three mobile phones, 11 ATM cards and 12 sim cards were recovered from their office, police said.
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