Mumbai | Mumbai Police have registered a case against eight persons for allegedly cheating a Pune resident of ₹1 crore by promising a 50 per cent return within 30 days through a purported investment scheme. The FIR names five accused, while three others remain unidentified. Investigators allege that the suspects posed as investment experts, persuaded the victim to invest in a so-called “Trade Profit Fund,” and disappeared after collecting the cash.
According to police, the victim is a 34-year-old resident of Hinjewadi, Pune. The accused allegedly met him on multiple occasions and claimed that an investment of ₹1 crore would grow to ₹1.5 crore within just 30 days. To gain his confidence, they reportedly presented forged documents, investment-related materials and other credentials designed to make the scheme appear legitimate.
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The investigation revealed that after winning the victim’s trust, the accused arranged to collect ₹1 crore in cash at a pre-decided location in south Mumbai. Once the money was handed over, neither the promised returns nor the original investment was returned. Realising that he had been cheated, the victim approached the police and lodged a complaint.
The LT Marg Police have registered an FIR against the five named accused and three unidentified persons under Section 318(4) (cheating) and Section 61(2) (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS), along with other applicable provisions. Investigators are working to identify the roles of all those involved, trace the movement of funds and determine whether additional victims were targeted through the same scheme.
Police are also examining whether the fraud is part of a larger organised investment scam. The investigation includes scrutiny of communications between the accused, financial transactions, digital evidence and other documentary records to establish the full scope of the operation.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said that financial fraudsters increasingly lure victims with promises of unusually high returns within a short period to gain their confidence. He advised investors to independently verify the legitimacy, regulatory status and credibility of any investment scheme before committing funds. He also cautioned against making large cash transactions or investing in schemes that promise unrealistic returns without regulatory oversight.
Police have urged the public not to invest in any scheme that guarantees exceptionally high returns without proper verification. They have also advised citizens to immediately report suspicious investment offers to the police or cybercrime authorities to prevent financial losses. The investigation is ongoing, and officials said further legal action will be taken based on the evidence collected.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
