MUMBAI, 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 Dadar East. Lured by the promise of high returns, Bhole began investing and was later encouraged to become an agent, with a 10% commission for every investor she brought in. She was later introduced to Navale, the alleged founder of the organisation. A police officer said, "She was impressed by the various schemes, bumper offers, lucky draws, and gifts such as bikes, gold and silver." The firm also promoted its offers during festivals and appeared on a YouTube channel explaining its schemes. "The complainant therefore convinced several other women and self-employed women to invest with the firm and got a commission for their investments," the police officer added. By April 2025, Bhole told the police that she had brought in over 100 investors, and nothing seemed fishy yet. Later, the company stopped giving returns, and when investors questioned Navale, he claimed he was unable to withdraw funds from the share market due to its volatility. The accused soon shut their office and stopped answering calls from investors. Bhole then approached the police, and investigations revealed that the duo had engaged about 40 agents like her and allegedly defrauded more than 2,000 people of Rs.4.41 crore. The police are trying to track down the duo who have been booked under relevant sections of the BNS....