Thane-Mumbai Investment Fraud Case: 36 Investors Report Alleged Loss of ₹13.70 Crore

An alleged investment fraud involving 36 investors from Thane and Mumbai has come to light, with investors reportedly claiming a combined loss of around ₹13.70 crore. The case involves Galaxy Finance Consultancy and its owners, Manoj Gulekar and Vinayak Jagdale, according to the complaint.

According to the complaint, investors were allegedly attracted with a promise of monthly returns of 5 per cent on their principal amount. They were reportedly told that their money would be used for stock market trading and investments in profitable real estate opportunities.

The firm allegedly gained the confidence of investors by making regular payments during the initial period. However, according to the complaint, the promised payouts stopped in February 2026.

When investors reportedly approached the firm seeking pending returns and repayment of their investments, they were allegedly given repeated assurances. The investors claim that the outstanding amounts nevertheless remained unpaid.

Police Case and EOW Investigation

Following complaints from investors, Mumbra Police reportedly registered a case. The Economic Offences Wing (EOW) of Thane Police has subsequently taken over the investigation, according to the information provided in the case.

Police officials have reportedly said that 36 investors have so far come forward, with an alleged combined loss of ₹13,70,96,910. Investigators are also examining whether additional investors may have been affected.

Financial Records Under Examination

The EOW is examining financial transactions and records associated with Galaxy Finance Consultancy to trace the movement of funds and determine the extent of the alleged financial irregularities.

Investigators are also expected to examine the investment arrangements, transactions with investors and other relevant financial documents as part of the probe.

The allegations against the individuals and the firm remain subject to investigation and any subsequent legal proceedings. Further details are expected as authorities examine the financial records and determine whether additional investors were affected.