Updated On: 05 June, 2025 03:45 PM IST | Thane | mid-day online correspondent
The scheme, allegedly initiated by a company asserting its role in developing applications for Google, enticed investors between the years 2020 and 2024 with misleading promises of significant returns generated from advertisements

The police have issued look-out notices for four other suspects. Representational Pic
The Thane police have apprehended an additional individual in relation to a Ponzi scheme, wherein over 100 individuals are purported to have been defrauded of Rs 91 crore, as stated by a senior official on Thursday.
With the most recent arrest occurring on Wednesday, a total of three individuals have been taken into custody by the police's Economic Offences Wing concerning the fraudulent activities, as noted in a statement by Deputy Commissioner of Police (EOW) Parag Manere, according to news agency PTI.
Additionally, the police have issued look-out notices for four other suspects, and there are ongoing efforts to locate all individuals involved in this scheme, he added.