Mumbai, Nov. 23 -- Trombay police have registered a case against four individuals for allegedly cheating investors of nearly Rs four crore through a stock market scheme that promised unusually high returns.
The complaint was lodged today by Amol Shinde, a resident of Maharashtra Nagar in Mankhurd.
According to the complaint, the accused-identified as Vilas Kadam, Vishakha Kadam, Vipul Kadam and Mansi Kadam-operated a financial investment company in the locality.
Shinde stated that he met Vilas Kadam in 2022 and was drawn to the scheme after being offered the prospect of higher earnings.
The accused allegedly promised investors monthly returns ranging from 5 to 13 percent and informed them that withdrawals would require at least one mont...