Three directors of Vashi firm booked for fraud

Navi Mumbai The Economic Offences Wing of the Navi Mumbai crime branch is investigating a ₹46.95 lakh-cheating case against directors of an infrastructure firm in

Navi Mumbai The Economic Offences Wing of the Navi Mumbai crime branch is investigating a ₹46.95 lakh-cheating case against directors of an infrastructure firm in Vashi. The police said the accused duped at least 18 people by getting them to invest in various schemes, promising them good returns. They have been cheating people since 2015.

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The Vashi police on Monday booked three directors of Kalakaam Infra (India) Limited , that operated out of Bawa Tower at Sector 17 in Vashi.

The trio advertised their schemes through word-of mouth and got many investors, said the police.

Officials said that in their monthly plan of three to five years, the three promised investors up to 20% interest. In another one-time deposit plan, an investor could pay anything between ₹50,000 and ₹5 lakh and after 39 months, upon maturity, 1.5 times the amount will be paid.

The other variation of the scheme promised twice the amount or a plot after 65 months of the premium.

In their third plan, they promised ₹600 to ₹6,000 pension for investing ₹50,000 to ₹5 lakh in their pension scheme.

An EOW officer said the directors claimed that the company is into marketing, plot selling, mining and hotel business apart from dabbling in tourism sector for the last 12 years.

The firm even signed a notarised agreement with the investors to legitimise the payment which stated that ‘if at the time of maturity of 39-month period, if the company fails to pay the money, a plot of equivalent amount will be given.’ Even an acceptance letter about the maturity date was signed, said police.

“The trio has locked the office and fled. We have taken over the investigation from the Vashi police. We are on the lookout for the accused directors,” said Santosh Shete, assistant inspector at EOW-1.