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5 booked for allegedly duping investors to the tune of Rs 3.20 crore

Monday, 11 August 2014 - 7:08am IST | Place: Mumbai | Agency: dna

The Amboli police have registered a case against five persons for allegedly duping several people to the tune of Rs3.20 crore by inducing them to invest in a high return scheme.

The case has been handed over to the Economic Offences Wing (EOW) of the city crime branch, police sources said.

According to the police sources, the complainant, Vijaykumar Thakkar, is a resident of Powai. Two years ago, Thakkar had come in contact with one Karan Dodani, who had a company in Andheri and had also started an attractive investment scheme in it.

"He got several people to invest crores of rupees in his scheme by promising 15% per month return on investment. Thakkar and his acquaintances too invested money in the scheme and fell prey to it," said an officer from Amboli police station.

As per the police, for the initial period, Thakkar received 15% on his investment as promised, but later stopped receiving the money from the company. "Thakkar made inquiries and later learnt that Dodani had shut down the operations of his company. Between 2012 and June 2014, several people have invested Rs3.20 crore in the company's scheme," the officer said.

Thakkar then lodged a complaint with Amboli police against five persons in this regard. The police have booked Dodani and four others under IPC sections 406 (criminal breach of trust), 420 (cheating) and 34 (common intention), and relevant sections of Maharashtra Protection of Interest of Depositors (MPID) Act.

"Since the money involved amounts to crores of rupees, we have handed over the case to the EOW for further investigation. No arrests have been made in the case yet," the officer said.

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