2 held for duping investors in Mumbai

Sleuths of the Economic Offences Wing (EoW) on Saturday arrested two persons, including joint director of an investment firm, for allegedly duping investors to the tune of Rs8 crore. The police also seized cash and properties worth Rs5 crore. The arrested duo — Suhas Naik and Jignesh Ojha — have been sent to police custody till August 29.

According to the police, a company by the name of M/s Ventures Limited had placed an advertisement in leading newspapers wherein they promised to give attractive returns on investments.

“Jagannath Vitthal Desai, 63, had invested in the company, which promised him a flat in Charkop and good returns. Initially, he received regular returns, but later cheques started bouncing,” said an EoW officer. Suspecting foul
play, Desai lodged a police complaint.