Directors of private firm booked for fraud

According to a complaint registered by Farihat Ahmed Khan,a resident of Nana Peth,Metro Cruise had given advertisements in various newspapers urging people to invest money in the company. Those who visited the company’s office in Sohrab Hall were told that company owns shopping malls and food bazaars across the country and also has subsidiaries working in real estate and construction. Police have booked Parul Singh and other directors of the company under Section 420 of the Indian Penal Code.

Many people were asked to invest money in their new venture: trading of boats. Sub-inspector BD Dhere of Bundgarden police station,who is investigating the case,said,“The investors were asked to invest around Rs 1,25,000 and were promised monthly returns of Rs 8,888. The company initially won the faith of the investors by regularly giving them the cheques.” After the people stopped receiving money,some of them went to the office and found it locked.

Dhere added,“The volume of the fraud seems to be much larger. The number of people who have been allegedly cheated can be over a thousand with the total volume in crores. We have also carried out searches at the company’s rented office at Sohrab Hall but found nothing. A probe is on.”

The Bundgarden police have urged the people who had invested in the company to come forward and contact the police station on 020-26123825.