Thane police have registered a case against Amit Yuvraj Karle, a resident of Panvel, Navi Mumbai, for allegedly cheating an elderly couple of Rs 17.5 lakh through a fraudulent share investment scheme.
According to police, the couple met Karle in December 2024, who claimed to possess 5,000 unlisted shares of NSDL and 3,000 shares of NSC (National Stock Exchange). He promised the shares would soon be listed, offering high returns, and convinced the couple to invest.
Between January and March 2025, the couple transferred a total of Rs 24.5 lakh to Karle’s bank account. Under threats of legal action, Karle returned Rs 7 lakh, but the remaining Rs 17.5 lakh was never recovered, and the shares were never transferred.
The fraud was uncovered when the complainants visited Karle’s residence, only to find him already in jail in connection with other criminal cases. Authorities have launched a probe into the incident.
