EoW arrests investment firm director, his wife on default

seized several bank accounts of the firm and the accused

In another crackdown, the Economic Offences Wing of Thane Police arrested an investment firm director, his wife, and two relatives for allegedly duping as many as 4000 investors of Rs 400 crore.

The firm is said to have defaulted the interest payout since November 2017.

The EOW officials arrested Shriram Samudra, a director in Sagar Investments, his wife Angha, and two relatives, officials informed.

Police also seized several bank accounts of the firm and the accused.

A case of cheating was registered against the Samudras in October last for allegedly duping 4,000 investors, hailing from places like Badlapur, Ambernath, Kalyan, Thane and Pune.

The firm offered 15 per cent interest for many years but defaulted paying the same since last November.

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