Thane: A Chartered Accountant's family here was cheated to the tune of Rs 25 lakhs under the pretext of high returns on investment in a multi-level marketing and ponzi company, city police said on Friday.
The complainant Sunil Burkhe stated that he was acquainted to a woman staff who since March 2014 roped him and 10 of his family members into the scheme.
The accused promised good returns on investment in the companies which indulged in a host of activities like travel, multi level marketing, education. However, they failed to give any returns to the complainant, reads the complaint.
Police said, the suspects had floated a number of companies to build confidence of investors and to attract investments but failed to keep up the commitment.
Offences were registered against the companies and also against the individuals, who were holding top executive position in the companies, said police.
In his complaint, the CA further stated that he attended several meetings with the agents and management of the company in Thane and elsewhere before and during the investments.
The Vartak Nagar police on Thursday registered cases under section 420 (cheating) of the IPC and relevant provisions of Prize Chits and Money Circulation Act, Maharashtra Investors Protection Act against the companies and the management, police said, adding, no arrests have been made so far in connection with the offence.
