A 50-year-old businessman from Maharashtra`s Thane city has allegedly been cheated of Rs 16.82 lakh after being promised high returns in the coconut trade, police said on Tuesday, reported news agency PTI.

The 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 PTI.

“The 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 PTI.

Later, the accused paid him only Rs 1.59 lakh. When the businessman asked for the balance of the profit, the accused refused to make any more payment, the official said, quoting the victim`s complaint, reported PTI.

Based on the complaint, the police on Monday registered a case against the four accused on charges of cheating and criminal breach of trust, he added.

Man held for cheating people with bogus notes, fake gold

In 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 PTI.

The accused used these items to lure victims into making small investments expecting high returns, Deputy Commissioner of Police (DCP) Prashant Kadam told reporters.

“The 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 PTI.

His associate is on the run and efforts are on to nab him, the DCP added.

Case against real estate developer for Rs 100 crore housing fraud in Mumbai

Meanwhile, 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 Mumbai`s Wadala area and diverting the funds for personal use, officials said on Thursday, reported PTI.

The police`s Economic Offences Wing (EOW) registered the case on Wednesday after the preliminary enquiry based on a complaint filed by 62-year-old Chartered Accountant Anil Dron, a resident of Kandivali in Mumbai, an official said, reported PTI.

The 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 PTI.

After 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 said.

The accused also sold one flat to two persons after taking money from both and cheated them as well, he said.

The 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 said.

(With inputs from PTI)

Source