Mumbai investment fraud: 25 directors, agents of three firms booked for duping 214 people of Rs 35 crore
Sources have said the actual number of the victim investors is huge, but so far over 200 investors have come forward to report the fraud Ponzi scheme.
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Since the amount involved in the alleged fraud is over Rs 10 crore, the investigation of the case is likely to be transferred to the Economic Offences Wing (EOW) of Mumbai Police. (Representational Image)The Mumbai Police have booked 25 people including the directors of four firms and their over two dozen agents on Friday for allegedly duping 214 people to the tune of Rs 35 crore. The accused persons, under the pretext of giving lucrative returns on investment, induced people into investing money with their firms and eventually defrauded them.
The Amboli police has registered an FIR on the complaint of a 39-year-old businesswoman from Baner area of Pune.
On her complaint, the police have booked firms IX global LLC, IX Global Academy Private Limited, Pochale Global Academy Private Limited, TB Global and their 21 directors and agents from Mumbai, US, Palghar and Pune.
All entities and individuals have been booked under sections 406 (criminal breach of trust), 409 (criminal breach of trust by a public servant, banker, merchant, or agent), 420 (cheating), 120B (criminal conspiracy) and 34 (common intention) of the IPC and Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (MPID) Act.
As per the police complaint, between June 2022 and June 2024, the accused persons, the accused directors of the firms and their agents on the pretext of giving maximum returns accepted investment amounts from 214 investors.
However, they failed to deliver on their promise and did not give promised returns to the investors. Instead, they caused wrongful loss to the tune of Rs 35.21 crore to the victim investors, a police officer said.
Since the accused firm IX global LLC has an office in Andheri West, the complaint was filed by the investors with the Amboli police station. After the zonal DCP reviewed the complaint, he directed the Amboli police station to lodge a criminal case and initiate an investigation.
Sources have said the actual number of the victim investors is huge, but so far over 200 investors have come forward to report the fraud Ponzi scheme.
Since the amount involved in the alleged fraud is over Rs 10 crore, the investigation of the case is likely to be transferred to the Economic Offences Wing (EOW) of Mumbai Police.
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