Mulund firm promoters booked for duping people of ₹40 lakh in investment fraud

The company offered a gold advance booking scheme, under which a person investing ₹16,500 for five months with them was supposed to get 5 grams of gold or ₹22,500 in return

Mumbai: A Mulund-based investment firm has been booked for allegedly duping 46 people of around ₹40 lakh by luring them with hefty returns on investments in multiple gold schemes. Police officers said the number of investors duped by the firm is likely to increase, as the accused company has cheated several others in a similar fashion.

Initially, the cops said, the firm gave returns to investors and won their trust, but later started defaulting in giving promised returns. (HT)

The police have booked promoters of Chrome Business and Trade India Private Limited -- Narayan Somaiya, Rekha Somaiya, Mahesh Shirodkar and Abhijeet Sakpal for criminal breach of trust, cheating and also invoked relevant sections of the Maharashtra Protection of interest of Depositors Act against them.

An FIR is lodged on the basis of a complaint made by Malad resident Rosy Fernandes, 50, a school teacher. She informed police that in 2019 she got to know about Chrome Business and Trade India, which has an office in Mulund West, through a friend. The company offered a gold advance booking scheme, under which a person investing ₹16,500 for five months with them was supposed to get 5 grams of gold or ₹22,500 in return, said a police officer.

“The accused company has similarly defrauded many other people and other victims may also come forward,” said Fernandes. When contacted, mobile phones of the accused were found to be switched off.