Tour Company Owner and Son Booked for Investment Fraud

A tour company owner and his son are accused of duping investors by promising returns on investment schemes but failing to deliver. A jeweller alone claims to have lost Rs 28.14 lakh. Police have registered a case under the IPC and Maharashtra Protection of Interest of Depositors Act. Investigation continues.

A tour company owner and his son have been booked for allegedly defrauding investors. The duo advertised investment schemes with guaranteed returns but failed to fulfill their promises, according to an official statement on Wednesday.

The case has been registered under multiple sections of the Indian Penal Code and the Maharashtra Protection of Interest of Depositors Act. According to the complainant, a jeweller, he invested Rs 28.14 lakh over five years without receiving either principal or interest.

No arrests have been made so far, and an investigation is ongoing.

(With inputs from agencies.)