Mumbai: Ponzi scheme, two directors charged for cheating 200 people

Daijiworld Media Network - Mumbai (SR)

Mumbai, Sep 17: Naya Nagar police on Saturday charged case against two directors and six others for cheating 200 people, including women and elderly persons, of crores under a Ponzi scheme operated from rented premises in Poonam Sagar.

The culprits were arrested from the Mira Road Company, Gold Express, where they operated the Ponzi business of collecting money from people by promising them 48-60% returns.

 Hundreds of people, mostly women and elderly persons, were cheated of crores under the scheme operating from Mira Road. As per TOI report, police have informed that the two directors, Majid Saliya and Amin Malpara, are absconding.

Around 200 investors on Saturday filed complaint in Naya Nagar police station. A case of cheating has been filed and the matter has been transferred to Thane Rural Economic Offences Wing (EOW). 



Title : Mumbai: Ponzi scheme, two directors charged for cheating 200 people


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