EOW probes Thane firm over allegation of multi-crore fraud

The Economic Offences Wing EOW of the Thane police has launched an investigation after a businessman accused a company and its partners of indulging in largescale investment fraud officials said on Wednesday reported news agency PTIIn his complaint to the Naupada police station the man said he invested Rs 8 lakh in 2016 through the firm which had promised him a monthly interest of 18 per cent However the payment allegedly stopped after two yearsWhen questioned the accused allegedly cited poor financial condition as the reason for failing to pay dues the Thane police said in a release reported PTIThe complainant learned that the accused persons had defrauded approximately 200 other investors of more than Rs 100 crore through their company it said reported PTIA case was registered on November 14 under the Bharatiya Nyaya Sanhita and Maharashtra Protection of Interest of Depositors in Financial Establishments Act against the company its two identified partners and othersOne of the persons named in the FIR had been booked earlier in 2019 and 2023 police said The EOW carried out searches at his house in the Naupada area and the companys office at Vishnunagar on November 15 and seized documents hard disks and other materials it said reported PTIThe agency has also appealed to citizens to come forward if they have been cheated by the companyTwo acquitted by Vasai court in 2021 murder and molestation caseIn another case the Vasai sessions court in the district has acquitted two men accused of murdering a man and outraging his wifes modesty in 2021 holding that the prosecution could not produce sufficient evidence reported PTIA copy of the order passed by H A S Mulla on November 3 acquitting Bles Ankles Tapeli and Moshe Valtar Katwar both 26 years old became available on Tuesday reported PTIThe duo were accused of outraging the modesty of a local woman and thrashing her husband to deathThe prosecution however could not produce the woman as a witness before the courtHad she been examined the matter would have taken a different turn but she failed to appear before the court and police could not trace her noted judge H A S Mulla reported PTIFurther both the informant and the sole eyewitness turned hostileThe investigation officer not being an eyewitness his testimony will only be a corroborating factor Thus no case is left for the prosecution the court said adding that there wasnt enough evidence to hold the accused guiltyWith inputs from PTI