Credit society director, 4 others booked for cheating investors

The Charkop police have lodged a case against five people, including the director of a credit society, who would lure people with the promise of giving them high returns and failed to pay after the maturity period.

The Charkop police have lodged a case against five people, including the director of a credit society, who would lure people with the promise of giving them high returns and failed to pay after the maturity period.

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So far, around five investors have approached the police with complaints.

According to the police, the case was registered on July 24 while the offence took place between October 2009 and July 2010. The police said the no arrests have been made in the case so far since the accused have gone into hiding.

The accused have been identified as Radheshyam Gupta, the director of Dhanlakshmi credit society located in Kandivli (West), and its employees Pankaj Mishra, Jhujhunwala (full name not known) and two others.

The credit society is located in Kandivli (West).

The police said the accused lured the investors promising them high returns.

After the maturity period, when several investors approached the employees of the credit society, they were given excuses.

The Charkop police suspect that there could be more investors who have been cheated by the five accused.