Thane Police Launch Probe Into Rs 1 Crore Forex Investment Scheme
Authorities in Thane have registered a case against a local consultancy for allegedly orchestrating a forex trading scam. Ten victims reported losses totaling over Rs 1 crore after promised monthly returns failed to materialize.
Forex Consultancy Under Fire for Unmet Promises
Police in Thane have initiated a legal investigation into an investment firm based in the Naupada area following allegations of a financial scam. The firm allegedly attracted capital from at least ten individuals by marketing foreign exchange trading schemes. These plans, designed to run for nearly a year, carried the promise of high-yield monthly returns ranging between 5 and 6 per cent.
The Scale of the Financial Losses
Initial findings from Naupada police suggest the collective financial exposure in this case currently stands at Rs 1 crore. While the investigation remains in its early stages, the following details have been established by law enforcement:
- Investment Duration: The accused promoted plans spanning approximately 11 to 12 months.
- Return Rates: Investors were told to expect consistent monthly payouts of 5% to 6%.
- Victim Count: Ten individuals have officially stepped forward to document their losses.
The authorities are currently examining the firm’s financial records and operational history to determine the full extent of the alleged fraud. No arrests have been publicized at this stage as detectives gather further evidence regarding the flow of funds.
Source: NDTV — Top Stories
