The accused convinced the 67-year-old former police officer, a resident of Kalyan in Maharashtra's Thane district, and his friend, who is a doctor, to invest large sums in companies engaged in share trading, promising unusually high returns

The police have registered a case against two individuals, residents of Pune and Goa, in connection with the scam, which reportedly occurred over the past two years, reported news agency PTI.

The accused convinced the 67-year-old former police officer, a resident of Kalyan in Maharashtra's Thane district, and his friend, who is a doctor, to invest large sums in companies engaged in share trading, promising unusually high returns. Read More

"The accused initially paid small returns to gain the victims' confidence, but gradually stopped all payouts.

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