2 construction firm owners booked for cheating Thane family of Rs 1.2 cr

`NEW DELHI: Law enforcement authorities have filed charges against two siblings who own a construction firm for allegedly defrauding a family of Rs 1.2 crore in Thane district, Maharashtra, as reported by officials on Wednesday.

According to the police report filed by a 28-year-old Rabodi resident, the accused convinced her family, including her mother and sister, to invest in their Mumbai-based construction company in Bandra, with promises of substantial returns.

The two brothers allegedly convinced her family to invest Rs 1.20 crore on December 31, 2022, promising either Rs 3 crore after five years or multiple flats in Bandra as an alternative, according to a Rabodi police official.

To raise the investment amount, the family obtained loans from various sources, the official stated.
When the family requested the return of their investment and profits in May 2023, the accused refused payment and issued threats, claiming influential connections, as per the official's statement.

Following the woman's complaint, authorities registered a case on Monday against the two accused under Indian Penal Code sections 420 (cheating), 406 (criminal breach of trust), 506 (criminal intimidation) and 34 (common intention), along with relevant provisions of the Maharashtra Protection of Interest of Depositors Act, the official confirmed.

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