FIR registered against director of private company in Mumbai for duping 15 people of Rs 18.34 lakh

Mumbai: Kandivli police have registered an FIR against the director of a private company for duping 15 people, including a senior citizen, of Rs 18.34 lakh collectively by offering them shares in another company at low rates. Police are investigating further.The complainant is a 63-year-old based in Ghatkopar and works as a medical salesman in a pharma company.
In May 2024, he was informed by an acquaintance about the accused who claims to be the director of a company based in Mahavir Nagar, Kandivli. The accused claimed to be possessing shares of a reputed company that manufactures hand tools and offered to sell them at low rates of Rs 4 per share. The complainant's acquaintance assured him of handsome profits and suggested he meet the accused.The complainant got hold of the accused's phone number and had a conversation with him. He learnt that the accused had shares worth Rs 18 lakh and was looking for buyers. The complainant then got together 14 others who would be interested in purchasing the shares. After discussion, it was decided that all 14 of them would transfer their money into the complainant's bank account and he would pay the accused a lumpsum.Between May 2024 and June 2024, the 14 buyers deposited Rs 13.07 lakh collectively into the complainant's bank account. He added a sum of Rs 2.10 lakh out of his own pocket and transferred Rs 15.17 lakh to the accused. Thereafter, four more buyers came forward and transferred Rs 3.17 lakh into the accused's account for the shares. The accused showed the buyers an "NSDL statement" which said that the shares were in his possession and gave them a stamped bond paper of Rs 100 which said that shares would be transferred in their names once the money was transferred.However, the accused later claimed that "NSDL had freezed his account." After making inquiries with the concerned authorities, the buyers learnt that the accused had no such shares. Subsequently, the buyers sent a legal notice to the accused and then lodged a police complaint.