Cops issue lookout notice against jewellers who cheated investors

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The Pant Nagar cops investigating a cheating case by Rasiklal Sakalchand Jewellers has issued a Look Out Circular (LOC) against its directors Jayesh and Nilesh Shah. So far, the police have received nine complaints of cheating against the jewellers.

After Rasiklal Sakalchand Jewellers shut shop as it allegedly ran into losses, several investors had come had demanded their money back. Jayesh had assured them that the money would be returned within 24 hours, but when he failed to do so, a 29-year-old investor filed a complaint on November 2.

"In the past two days, we have received nine complaints. Three more people have come forward," said a police officer from Pant Nagar police station, on condition of anonymity.

"We are asking more people to come forward and register their complaints," he said.

Sanjay Bhalerao, senior police inspector, Pant Nagar police station, confirmed the development and said the matter is underway. According to police sources, both the accused are unreachable since October 30.

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