Thane: Man, woman held for cheating investors, 2 absconding

A man and woman were arrested on Friday for allegedly cheating investors by promising them good returns, Thane police said.

MFC police station inspector NK Bankar said Rekha Jadhav and Gangadhar Rao have been arrested under IPC and MPID Act provisions while Sunil Awhad and Sandeep Sanap were on the run.

"The four set up an investment firm and duped 10-12 investors of Rs 1.73 crore. Further probe into the case is underway," he added.