One person has been arrested for allegedly duping at least 37 people of around Rs 1.72 lakh by promising lucrative returns while claiming to invest the money in a 'government scheme', police said today.
Two persons wooed people here by promising huge returns on their investment in a 'government scheme', Inspector M D Suryavanshi of Bazarpeth police station said.
Following this, the people, mostly senior citizens, deposited Rs 1.72 lakh into the scheme promoted by the duo. When they did not get their returns, the people realised that they were cheated and approached police recently, he said.
Based on the complaints by the victims, one of the accused, identified as Nanoo alias Dyaneshwar Moreshwar Ambre (48), a street-food seller, was arrested last night, Suryavanshi said.
A case under section 420 (cheating) read with 34 (acts done by several persons in furtherance of common intention) of the IPC, has been registered against the duo, he said, adding hunt is on to nab the other accused.
Police have undertaken a drive to create awareness among the citizens that they may desist from investing in such schemes, Suryavanshi added.
