Director of company in Thane arrested for duping investors of Rs 3.15 cr

Thane, Mar 9 (FN Agency) The city police arrested the director of a company on the charge of allegedly cheating investors in land deals to the tune of Rs 3.15 crore. An offence under sections 420, 409, 406 and 34 of Indian Penal Code has been registered against the arrested accused, Santosh Naik (52), police said. He along with other director in Disha Direct Marketing Services Private Limited, his wife Sujata, dealt in sale of plots in Thane district.

They lured investors by selling plots for their second homes in Shahapur, Satara, Karjat, Kasara, etc., at attractive prices in the projects of the company, which never came up nor they refunded their money. They thus cheated around 25 people to the tune of Rs 3,15,54,909, following which the criminal offence was registered against them in August 2020 and Naik was arrested on Friday last. Further probe into the crime is being carried out by the Economic Offences Wing of the city police, it was stated.