The Shivaji Park police have booked two men for allegedly cheating more than 150 investors of over R10 crore through a bogus high-return investment scheme linked to an agribusiness firm claiming to export moringa powder.

The accused, identified as Sachin Phadtare and Nikhil Shelar, allegedly lured investors by promising returns of up to 50 per cent annually. “Victims were persuaded to invest large amounts under a five-year plan and were initially paid monthly returns,” a police officer said.