A consultancy firm operating in Maharashtra's Thane district has come under police scrutiny after its operators allegedly cheated investors of more than Rs 2.15 crore by promising lucrative returns through fraudulent share market investment schemes.
The Kalyan police have registered a case against two individuals in connection with the alleged fraud, which is suspected to have affected many more investors than initially reported.
Consultancy operators booked for investment fraud
According to police, an FIR has been registered against Rohit Surwade and Pratik Gaikwad, who allegedly operated The Stocktone Consultancy, for cheating investors between March 2022 and June 2025.
The case was registered on Thursday under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Maharashtra Protection of Interest of Depositors (MPID) Act.
Investigators allege that the accused lured investors by offering attractive returns through purported share market investment schemes.
Tea vendor among victims
The complaint was lodged by a 33-year-old tea vendor from Khadakpada in Kalyan, who, along with several other investors, allegedly invested a total of Rs 2.15 crore with the consultancy.
According to police, when the investors later sought the return of their principal amount along with the promised profits, the accused allegedly failed to repay the money.
Officials said the consultancy had allegedly collected funds from multiple investors over several years by assuring them of high returns.
Police suspect larger financial scam
Investigators believe the fraud may be significantly larger than the amount reported in the initial complaint.
According to police, the total amount involved could eventually run into several crores of rupees, while the number of victims may rise to hundreds as more complaints emerge.
No arrests have been made so far, and the investigation is underway to trace the accused and identify additional victims.
Over 130 job aspirants cheated of Rs 52.68 lakh
In a separate incident in Thane district, police have registered a case against eight persons associated with a recruitment agency for allegedly cheating more than 130 job aspirants of Rs 52.68 lakh by promising overseas employment.
According to police, the accused operated under the name Al-Limra International, based in Kalyan, and allegedly collected money and passports from job seekers between January and May 2026 on the promise of arranging jobs abroad.
Agency allegedly shut down after collecting money
The complaint, filed by a Mumbai resident at the Mahatma Phule Chowk Police Station, alleges that the agency abruptly shut down after collecting payments from applicants.
Police said many victims lost both their money and passports.
"Out of the total pool of more than 130 victims, some have lost both their money and passports. When the victims attempted to follow up on their applications, they discovered that the agency had abruptly shut down its operations," Inspector Vinod Patil said.
The financial loss reported so far stands at Rs 52.68 lakh, while efforts are underway to trace the eight accused.
(With inputs from PTI)
0 Comments