Thane: The wing of the economic violation of the police Thane has captured the Director of Financial Institutions to cheat more than 9,000 investors more than Rs 22 Crore.
A police officer said that the defendant Arun Raghuanth Gandhi, 75, a resident of Subhasnagar, along with other charges had established a company called Sampar Agro Multi-State Cooperative Society which was limited and drifted various schemes that promised a higher return.
“He received investments from depositors who promised them a favorable return, but no one returned them the principal or paid them interest,” said a police officer.
The police sorted the case after Rekha Zope 57, who lost Rs 35.3 Lakh, filed a complaint with the Wisnu Nagar police station in Dombivli.