Pune: The Pimpri Chinchwad police's economic offences wing (EOW) has arrested a man and a woman from Noida in Uttar Pradesh on charges of duping 732 investors of a total of Rs7 crore in an investment fraud . The affected investors hail from various locations across Maharashtra, including Pune, New Mumbai, and Ahmednagar. Senior inspector Vanita Dhumal of the Pimpri Chinchwad EOW told TOI that last year, the two accused — Sandip Kumar (44) and Seema Mittal (36) — had floated different schemes offering high returns on investment with their company.
Then then folded the venture after collecting the money. The officer informed that the duo started their office on the premises of a mall in Wakad. They had branches in Pimpri Chinchwad, Pune, New Mumbai, and Ahmednagar.
"A 49-year-old resident of Ravet, who lost his money on Dec 1 last year, lodged a complaint against the duo with the Wakad police," Dhumal said. When contacted, one of the investors, who did not wish to be named, told TOI that he first noticed the firm's advertisement on a social media platform. "The scheme was to rent a three-wheeler commercial vehicle and earn Rs31,000 per month.
The person needed to invest Rs4.20 lakh with the firm, which would pay the driver's salary and for vehicle maintenance," he said. The victim added that in June last year, he had gone to the firm's office, where he was told by an employee that the firm had contacts with different e-commerce companies.
These companies would take each inv.