Pune: A director and three office-bearers of a finance consultancy firm allegedly duped 53 people of Rs3.5 crore on the promise of providing high returns on their investments.Pimpri Chinchwad police have registered a case of cheating under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Banning of Unregulated Deposit Schemes Act. The suspects collected money from the investors between May 2023 and Dec 2024. A 45-year-old resident of Chakan, who lost Rs15.70 lakh, lodged a complaint with Chakan North police.An officer said, “Suspects had started a finance consultancy firm in Chakan in 2023. They allegedly lured investors by promising monthly returns of 3.5% to 3.75% on investments in shares, mutual funds and systematic investment plans (SIPs). Initially, they gave some returns to the investors and gained their confidence. The complainant invested Rs 15.70 lakh but later lost the entire amount.”Police investigation revealed the accused had collected Rs 3.5 crore from 53 investors. They later closed their firm and stopped responding to investors’ calls. “Realising they had been duped, they lodged a complaint,” he added.
