Thane, Nov 21 (PTI) Police in Maharashtra’s Thane city have registered a case against five persons for allegedly cheating 14 investors of Rs 3.6 crore with the promise of “high” returns, an official said on Friday.

According to the official from Srinagar police station, a shopkeeper from Vikhroli in Mumbai approached them with a complaint against the accused, including the founder of a company.

The complainant said he and 13 others had collectively paid Rs 3.6 crore to the company since February last year after the accused persons enticed them with “high and assured” returns.

The firm paid returns regularly in the beginning, but the payments later stopped abruptly. The accused failed to return the principal amounts as well, the official said, citing the FIR registered on Wednesday.

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