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Jewellery chain shop owner booked for cheating investors in Thane
Maharashtra

Jewellery chain shop owner booked for cheating investors in Thane

Agency News

Thane, Oct 26 : The city police on Saturday booked a renowned jewellery chain shop owner on the charge of allegedly cheating several customers to the tune of several crores during the Diwali festival.

Thousands of customers of the Kerala-based jewellery chain stores were in for a rude shock on finding the shop in Dombivili town of the district closed during the Festival of Lights. The shop, which usually does brisk business during the festival, has been closed since last four days, police said.

Today, several hundreds of investors gathered in front of the shop and were perplexed on finding the shop closed. Their efforts to contact the owners of the shop and staff were futile, leaving all of them high and dry.

The shop also accepted monthly investments and deposits from the investors, promising good returns. It has thousands of investors and the money involved runs in crores, it was stated. The owners of the shop have been booked under sections 406, 420 and 34 of Indian Penal Code by the Dombivli police, sources said and added further probe was underway.(UNI)