India, Dec. 11 -- Two brothers from Ulwe were booked on Tuesday for allegedly cheating multiple investors of Rs.2.92 crore through fraudulent stock market schemes and a proposed food delivery app promising unusually high returns.

According to the police, the duo, residents of Sector 23, Ulwe, ran a financial services firm from an office set up in Sector 30A, Sanpada. Between November 2023 and December 2025, the brothers lured a 46-year-old Hingoli farmer and several others with guarantees of quick profits, convincing them to invest large sums, collectively amounting to Rs.2.92 crore. They failed to return either the promised returns or the capital, and also stopped answering the victims' calls or messages.

Realising that he had been che...