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A 36-year-old man from Palghar district, Maharashtra, has been arrested for allegedly defrauding 14 investors of Rs2.39 crore by promising high returns through his company.
The accused, Roshan Chandanlal Jain, reportedly convinced investors to put money into the stock market via his Boisar-based firm. Despite collecting funds from 2022 onwards, Jain allegedly failed to deliver any returns to the investors.
Following a complaint by one of the defrauded investors, authorities filed an FIR against Jain. He was subsequently taken into custody, and the Economic Offences Wing (EOW) is conducting a detailed investigation into the case.
