Tax consultant duped of Rs 8.6 lakh in investment fraud in Maharashtra's Thane; 10 booked

Thane: Police have registered a case against 10 persons for allegedly cheating a tax consultant in Maharashtra's Thane after luring him for an investment with higher returns, causing him a loss of Rs 8.66 lakh, an official said on Monday.

The accused contacted the 38-year-old victim, resident of Mumbra area, on multiple occasions from November 2023.

They convinced him to invest in MCOIN (a digital asset), offering high and lucrative returns.

The victim invested the money but when he sought updates on the returns, the accused failed to respond, the official from Mumbra police station said.

After repeatedly failing to contact the accused, the victim approached the Mumbra police with a complaint.

The police on Saturday registered a case against the accused under relevant legal provisions for cheating and criminal breach of trust, the official said.

A probe was on into the case.