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Thane: Third accused held in massive Rs 91 crore investment scam

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

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The police have issued look-out notices for four other suspects. Representational Pic

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.

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