FIR against 17 for duping investors

ST Correspondent
Saturday, 7 April 2018

The incident took place between August 2011 to June 2012 at Blue Chip Corporation Pvt Ltd’s office in Magarpatta City. One of the victims, Babasaheb Thorat (55),has lodged the complaint with Hadapsar police station. 

PUNE: An FIR has been registered against 17 people for allegedly duping 182 investors to the tune of Rs 4.42 crore under the pretext of lucrative returns on investment in the share market for lucrative returns. 

The incident took place between August 2011 to June 2012 at Blue Chip Corporation Pvt Ltd’s office in Magarpatta City. One of the victims, Babasaheb Thorat (55),has lodged the complaint with Hadapsar police station. 

According to the police, the accused persons had raised money for investing in the share market under pretext of lucrative returns. But people didn’t get any return or the amount they had invested. 

The police have booked the accused persons for offences under sections 420 (cheating), 406 (criminal breach of trust), 120b (criminal conspiracy) of the Indian Penal Code and relevant sections of the Maharashtra Protection of Interests of Depositors (MPID) Act. 

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