Thane: Economic Wing Wing (EOW) from Police Thane has captured the builder from Ulhasnagar for allegedly deceiving 43 Investors of Rs 5.5 Crore by promising their investment returns from Dubai, said Sunil Lokhande, DCP Eow, Thane Police.
Police said the defendant and eight of his partners had started construction in the plot in Ulhasnagar in 2015, and lured investors by floating various schemes that promised a higher return.
“The initial accusation pays a number to investors, but then stops,” said a police officer.
A violation was registered with him last year to cheat, a criminal violation of trust, and part of Maharashtra protection from depositors’ interests.
– Nishikant Karlikar.