Investment scam: Couple dupe people of ₹80 lakh in Thane

The Naupada police have booked a couple for allegedly duping several people to the tune of ₹80 lakh by assuring them better interest on their investments compared

The Naupada police have booked a couple for allegedly duping several people to the tune of ₹80 lakh by assuring them better interest on their investments compared to banks or other financial institutes.

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The accused Manoj Pawar and his wife Monica, are absconding. The complainant Nirmala Rajput, 47, a teacher said that the accused lured investors and operated a ponzi scheme by the name Ganesh Fund. The scheme promised people good returns in exchange for their hard-earned money.

According to Rajput, in 2018, she got in touch with Pawar through some common friends to explore more business opportunities and investment benefits. She decided to invest in the scheme told suggested by Pawar along with a few of her friends.

Naupada police officers said, “More than 42 residents from Thane have invested in the schemes suggested by Pawar, the total fraud is worth ₹80.35 lakh. Recently when people started asking their money back, the accused couple fled from their residence in Thane. Their office is also closed. We have registered a case under IPC section 420, 406 and further search has been started for the accused.”