This is an archive article published on April 11, 2023
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Businessman duped of Rs 2 crore, fraud case filed against 8
The accused made the complainant pay Rs 3 crore for an agreement to get the loan sanctioned. They also reportedly used forged documents in the process.
"We suspect the involvement of an interstate fraud group, which may have targeted others. Nothing much about them can be disclosed at this stage. The investigation is on," said a police officer. (Representational/File)
A fraud case has been filed against eight persons for allegedly duping a businessman, 54, from Powai of Rs 2 crore. The accused took Rs 3 crore from the businessman, police said, allegedly for a bank loan of Rs 150 crore. The complainant said he was seeking the loan for expansion of his business linked to electronics.
The accused assured him they would be able to arrange the loan in a short time without much documentation. “We suspect the involvement of an interstate fraud group, which may have targeted others. Nothing much about them can be disclosed at this stage. The investigation is on,” said a police officer.
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The accused made the complainant pay Rs 3 crore for an agreement to get the loan sanctioned. They also reportedly used forged documents in the process.
When he demanded his money back, only Rs 1 crore was returned, police said.
The accused have been booked under sections 406 (criminal breach of trust), 420 (cheating), 465 (forgery), 467 (forgery of valuable security), 468 (forgery for the purpose of cheating), and 34 (common intention) of the Indian Penal Code. An FIR has been filed against Nityanand Naidu, Sunder, Ajit, Thomas, Subramanyam, Rajendran Chandran, Rajan and A Seturaj.
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Some of them are believed to be from Tamil Nadu; while others are from Mumbai.
"We suspect the involvement of an interstate fraud group, which may have targeted others. Nothing much about them can be disclosed at this stage. The investigation is on," said a police officer. (Representational/File) 
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