A 47-year-old man was arrested on Monday for allegedly duping several investors from Mumbai, Pune and Nashik of around Rs5 crore.
The RAK Marg police arrested Mayank Dhruv on the basis of a complaint filed by Nitin Bajirao Khule, 25, a resident of Kasturba slums in Wadala. Khule and the other investors had submitted a written application in the court, after which the police registered case of cheating and forgery on January 29. They are on the lookout for his accomplice, Santosh Punde.
“The investors had invested in the Dadar-based company that Dhruv floated. He had allegedly promised them that their investment double in 20 months after which they would be paid in instalments,” a police officer said.
He added that Dhruv and Punde later defaulted in their payments and after they shut down the company, the investors approached the court.
Dhruv is currently in the custody of the Economic Offences Wing as the case was transferred to them.