Thane businessman duped of Rs 16 lakh in coconut trade fraud; 4 booked

A 50yearold businessman from Maharashtras Thane city has allegedly been cheated of Rs 1682 lakh after being promised high returns in the coconut trade police said on Tuesday reported news agency PTIThe Vartak Nagar police in Thane have registered an FIR against four individuals in connection with the fraud that took place between September and December 2024 they said reported PTIThe accused lured the victim to partner with them and invest in the business of coconut sale promising him lucrative returns The victim believing them invested more than Rs 16 lakh in the business an official from Vartak Nagar police station said reported PTILater the accused paid him only Rs 159 lakh When the businessman asked for the balance of the profit the accused refused to make any more payment the official said quoting the victims complaint reported PTIBased on the complaint the police on Monday registered a case against the four accused on charges of cheating and criminal breach of trust he addedMan held for cheating people with bogus notes fake goldIn another case a man was arrested after Thane police busted a racket aimed at conning people with bogus currency notes and fake gold biscuits an official said on November 7 reported PTIThe accused used these items to lure victims into making small investments expecting high returns Deputy Commissioner of Police DCP Prashant Kadam told reportersThe probe began on a complaint filed at Kapurbawdi police station by Nitesh Harishchandra Shelke who was promised return of Rs 3 lakh within three weeks on an investment of Rs 1 lakh Based on a tip off we held Sanjay Kumar Pakaudilal Bharti on November 3 We found currency notes bearing the imprint Bharatiya Bachcho Ka Bank 38 biscuits resembling gold etc he said reported PTIHis associate is on the run and efforts are on to nab him the DCP addedCase against real estate developer for Rs 100 crore housing fraud in MumbaiMeanwhile the police have registered a case against a real estate developer and others for allegedly defrauding homebuyers of Rs 100 crore by promising flats in Mumbais Wadala area and diverting the funds for personal use officials said on Thursday reported PTIThe polices Economic Offences Wing EOW registered the case on Wednesday after the preliminary enquiry based on a complaint filed by 62yearold Chartered Accountant Anil Dron a resident of Kandivali in Mumbai an official said reported PTIThe accused real estate developer Subbaraman Anand Vilaynur his wife Uma Subbaraman B P Gangar Constructions and others collected Rs 100 crore from 102 persons in the name of Sky 31 housing project in Wadala West since 2018 promising each a flat he said quoting the complaint reported PTIAfter collecting money from the victims the accused allegedly conspired to divert the funds to their personal and other bank accounts instead of using them for the housing project the official saidThe accused also sold one flat to two persons after taking money from both and cheated them as well he saidThe EOW registered the case against the accused on charges of cheating and criminal breach of trust and a probe was on into it the official saidWith inputs from PTI