India, Nov. 23 -- A family of four has been booked for allegedly cheating around 60 people of nearly Rs.4 crore by promising them 10% to 15% monthly returns on their investments. According to the Trombay police the accused told the victims that he had invested their money in several share markets in foreign countries which allowed him to pay them high returns.

The police have identified the accused as Vilas Kadam, 50, and three of his family members, Vishaka Kadam, Vipul Kadam, and Mansi Kadam, residents of Mankhurd. The police said that one of the duped victims, Amol Shinde, a resident of Maharashtra Nagar in Mankhurd, first heard of the lucrative investment opportunity in 2022. Shinde was informed that the Kadam family, which stayed no...