Mumbai, Aug. 8 -- Police have registered a case against three traders from Zaveri Bazaar for allegedly defrauding investors of approximately Rs 44 crore through a gold trading scheme promising high returns, official confirmed today.
The accused, identified as Ladulal, Pallav, and Shubham, are known figures in the area's business circles.
The complaint was filed at Lokmanya Tilak Marg police station by a fellow trader based in the western suburbs who also operates a shop in Zaveri Bazaar.
The complainant stated that the trio persuaded him to invest capital, assuring substantial profits through various business strategies. Initially encouraged by profitable returns on an investment of about Rs 2 crore, the trader increased his stake sign...