Navi Mumbai man cheated of Rs 30 lakh in the name of investment trading

On Thursday, police authorities in Mumbai said that a 37-year-old resident of the Uran area has been cheated out of Rs 30 lakh by alleged scammers promising good returns on supposed share investments. The accused, a father-son duo, assured the Navi Mumbai resident of 20 per cent returns on his investment every single month, compelling the victim to invest Rs 30 lakh with them in August of this year. 

When, inevitably, he did not get the promised returns, the victim approached the Uran police station to file a complaint against the two alleged scammers. Based on the complaint so filed, the police, on Thursday, registered offences against the accused under Indian Penal Code sections 420 (cheating), 406 (criminal breach of trust), and 34 (common intention).