Overview
- Trombay police booked Vilas Kadam and three family members after residents alleged they were duped through a purported foreign share market investment plan.
- The case cites promises of 5%–15% monthly returns, written agreements and cheques to build trust, and a halt in payouts from March 2023 before the family allegedly vanished.
- Complainant Amol Baburao Shinde reported investing ₹33.5 lakh between May 2022 and March 2023 after receiving initial interest payments.
- Offences were registered under IPC sections 120B, 34, 420 and 406, and investigators are reviewing bank transactions, documents and communications to trace funds.
- In Thane, Khadakpada police opened an inquiry into a ₹1.44 crore loss reported by a retired police officer and a doctor, booking two suspects from Pune and Goa under IPC 420, 34 and the MPID Act.