Mumbai: Chartered Accountant Cheated Of ₹4.11 Crore In Investment Scam, FIR Registered Against Culprits

Kurar Police has registered an FIR against the person who cheated the complainant of Rs 4.11 crore by luring him with good profits on investment in business.

Details of complaint

According to the information received from the police, the complainant Pradeep Parameshwarlal Banka (62), who is a chartered accountant, has complained to the police that Rajeev Merchant and Archana Merchant, partners of Indian Home Variation and Distribution LLP Company, had invited the complainant to invest in their business. Had given the lure of giving good profits if done.

A police officer said that the complainant was influenced by these people and invested about Rs 4.11 crore in their company. After making the investment, the accused did not give any profit to the complainant and also did not return his money.

Banka told in the complaint given to the police that he had invested this money between the years 2010 and 2015. Banka has stated in his complaint to the police that the money taken from him was used by these accused for personal use.

FIR registered against Rajeev

Pradeep Parameshwarlal Banka took the matter to DCP Zone 12, submitting a written complaint. Following the complaint, the Kurar Police, acting on the DCP's directives, has registered an FIR against Rajeev Merchant and Archana Merchant under sections 420, 406, and 34 of the IPC. The investigation is currently underway to ascertain the details of the alleged fraud and bring the accused to justice.