Police registered a case after an investor complained he paid Rs 1.81 cr but got no returns
The EOW have booked the accused, Prateek Harsora, under the Maharashtra Protection of Interest of Depositors Act. File pic
In yet another case of financial fraud, the Economic Offences Wing (EOW) of the Mumbai Police has booked Prateek Harsora, who operates Rudra Investment and Mahakal Investment, and allegedly swindled investors out of hefty amounts on promising an assured 6% monthly return.
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The police registered a case against the accused under the Maharashtra Protection of Interest of Depositors (MPID) Act after a 36-year-old investor filed a complaint stating that he gave Harsora R1.81 crore but never saw any returns.
While police booked the accused for cheating and financial fraud, he is yet to be arrested.
The authorities are now considering invoking additional sections under the Bharatiya Nyaya Sanhita to strengthen their case against him.
Harsora is alleged to have orchestrated the scheme by misrepresenting himself as a sub-broker of Nirmal Bang, a reputed stockbroking firm.
According to sources, the initial inquiry revealed that once Harsora secured the investments, he allegedly failed to return both the promised interest and the principal amount.
Investigations have also uncovered that he defaulted on multiple loan and credit card payments linked to his investment scheme. At least 20 more investors have come forward with similar complaints, claiming they were similarly duped.
The total amount of fraud is estimated to be Rs 12.7 crore. Initially, the case was registered at Dahisar police station, but was later transferred to the EOW.
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