An FIR has been registered against the owner of an investment firm from Thane district for allegedly promising investors a hefty profit on shares and duping them of Rs 44 lakh, police said on Wednesday.
At least 17 people were allegedly cheated by accused Pratik Remne, as per the FIR.
No arrest has been made so far, a police official said.
Remne allegedly lured potential investors into depositing money in his firm by promising them a monthly interest of 20 per cent through the share market, the official said quoting the FIR.
The alleged fraud took place between October 2023 and March 2024.
Advertisement
"Remne's firm failed to give the promised returns and didn't refund the deposited amount as well. In some instances, cheques issued to investors bounced due to insufficient funds," the official added.
The accused and his staff shut the office of the firm in Dombivali area and are untraceable, he said.
Police registered a case on March 25 under appropriate sections of the Indian Penal Code for cheating and other charges.
