The accused approached the 56-year-old victim and asked him and his son to invest in a club business promising 25 per cent partnership and lucrative returns
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The Navi Mumbai Police have registered a case against a 35-year-old man for allegedly cheating a textile businessman of Rs 50 lakh, an official told news agency PTI on Thursday.
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The accused approached the 56-year-old victim and asked him and his son to invest in a club business promising 25 per cent partnership and lucrative returns, the official from APMC police station told PTI.
They then signed an MoU and the victim made a payment of Rs 50 lakh to the accused, he said.
Later, when the victim enquired about the returns, he was informed that the business has been already sold to some partners of the accused, the official said, adding the offence took place between February 2022 and May 2023.
The victim on Wednesday lodged a police complaint, based on which a case was registered against the accused under Indian Penal Code Section 420 (cheating). No arrest has been made so far and a probe is on into the case, the police told PTI.
Meanwhile, a 27-year-old unemployed man from Navi Mumbai has allegedly been cheated of Rs three lakh by a person who promised to get him a job, police told PTI.
The accused, whom the victim knew, promised to get him a permanent job with the SSC/HSC Board office at Vashi in Navi Mumbai in June last year and took Rs three lakh from him, an official from Vashi police station told PTI.
However, the victim did not get the job and the accused also did not repay the money, the official said.
In another incident, the Mumbai Police have arrested a 45-year-old share broker who allegedly indulged in illegal 'dabba trading' with transactions worth Rs 4,672 crore in nearly three months, an official told PTI on Thursday.
'Dabba trading' is an illegal form of trading in shares, where operators of such trading rings allow people to trade in equities outside the stock exchange platform.
The accused, Jatin Sureshbhai Mehta, arrested from suburban Kandivali on Tuesday, allegedly cheated the government of more than Rs 1.95 crore by not paying various taxes, like the security transaction tax, capital gains tax, state government stamp duty charges, SEBI turnover fees and stock exchange turnover revenue, the police official told PTI.
The broker allegedly indulged in trading of shares outside the stock exchange without a valid licence and his "turnover between March 23 to June 20, 2023 was Rs 4,672 crore," the official said.
(With inputs from PTI)
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