Mumbai: The Matunga Police have arrested a director of a group of companies for allegedly duping the investors to the tune of ₹1.5 crore.
While police have booked two more people, including the arrested accused Praveer Parkar's wife Gauri, the accused had promised the complainant, a retired senior citizen of high returns in an agro investment scheme.
Police said that the accused had lured the victim to invest ₹4.5 lakh for a plot of land as well as a common farm plot of one acre, which was to be divided among 40 investors.
A case was registered under IPC and MPID Act provisions, while a further probe is underway.
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