India, Nov. 29 -- The police have booked a man and a woman for allegedly cheating nearly 2,000 investors of Rs.4.41 crore by promising high returns and luring them with gifts such as high-end bikes and gold and silver articles.

According to the Bhoiwada police in Dadar East, the accused have been identified as Namdeo Navale and Alka Mahadik. The police said the FIR was filed based on the complaint of Madhura Bhole, 45, a Wadala resident who initially invested in the scheme and later became an agent for the duo. Bhole told police she met Mahadik in June 2023 while staying in a rented flat owned by her brother-in-law.

At the time, Mahadik introduced her to the investment schemes promoted by a trading firm which operated from an office in ...