According to the Navi Mumbai Police, the accused had planted a "money making scheme" by giving them higher returns on their investments. They would then use the crisis of Covid-19 as a reason of their sudden closer of the business.
Deputy Commissioner of Police of Navi Mumbai, Pravin Patil has added that some investors had launched an official complaints against the private investment firm and that's how the police came to knew about this crime.
The 9 arrested includes agents and company's leadership team. "The Police is still searching for three other persons including the company's director" said Pravin Patil.
The Navi Mumbai police have registered a case against all these 9 under relevant sections of the Indian Penal Code (IPC), the Prize Chits and Money Circulation Scheme (Banning) Act and the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act.
Navi Mumbai police Commissioner BK Singh has applead to the people to cautious while investing money in private investment firms.
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