Thane: A man was arrested from Mangalaru in Karnataka for allegedly deceiving people in Thane Maharashtra by establishing a cooperative credit community and accepting deposits under a higher return pretext, the police said on Monday.
A senior inspector of the Economic Violation of the Thane (EOW) heap branch said that a pine was registered against the defendant, Raviraj Samani, because of cheating in January 2020.
Samani has formed a cooperative credit community and received investment from residents who promised them.
He escaped without returning even the amount invested, police said.
In accordance with the initial investigation, the defendant dropped at least 90 people to Tone Rs 1,30,15,622, the inspector said.