India, Feb. 22 -- The Meghwadi police in Jogeshwari have registered a case against four individuals, including a woman, for allegedly cheating at least 60 people of Rs.3 crore by promising them good returns on investments in the share market.

Police said they are searching for the four accused, identified as Kiran Chavan, Kishore Chavan, Jitesh Malvankar and Mayuri Bhogle. So far, 20 complainants have come forward in the case.

According to complainant Vishal Amritlal Kumawat, 27, a resident of Jogeshwari, he was introduced by a friend to Chavan and Malvankar, with the assurance that they can guide him on investments in the stock market as they had SEBI registration. And through them, he met the other two accused. Believing their assuran...