Mumbai Crime: 40-Year-Old Chembur Man Dupes 10 Investors Of ₹83 Lakh In Fake Goat Trading Investment Scheme; Case Filed
A Chembur man, Mohammad Ali Mohammad Salim Shaikh (40), has been booked for duping 10 people of ₹83.12 lakh through a fake goat trading investment scheme. He promised ₹5,000 monthly returns on every ₹1 lakh invested but later vanished after taking funds. A case under BNS and the MPID Act has been registered; investigations are underway.
Mumbai Crime: 40-Year-Old Chembur Man Dupes 10 Investors Of ₹83 Lakh In Fake Goat Trading Investment Scheme; Case Filed | File Pic (Representative Image)
Mumbai: The Chembur Police have registered a case against Mohammad Ali Mohammad Salim Shaikh, 40, for allegedly duping ten people of Rs83.12 lakh under the pretext of offering lucrative returns on investments in his goat trading business.
About The Case
According to the FIR, the accused lured victims by promising a monthly profit of Rs5,000 on every Rs1 lakh invested. The complaint was filed by Abdul Aziz Abdul Salam Sayyed, 35, a mehndi artist residing in the Diamond Garden area of Chembur.
Sayyed told the police that in December 2023, a woman named Nilofar, who worked with him, introduced him to her cousin Mohammad Ali, claiming he was engaged in goat trading. Nilofar assured Sayyed that she herself had invested Ra3 lakh with Ali in 2017 and was earning Rs15,000 per month in returns.
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Trusting them, Sayyed invested Rs2 lakh in December 2023, followed by Rs5 lakh in March 2024. Initially, Ali paid the promised monthly returns in cash. Sayyed later invested an additional Rs3 lakh in May 2024, and subsequently another Rs5 lakh, taking his total investment to Rs15 lakh.
However, Ali allegedly stopped paying profits from April 2025 and became untraceable, ignoring Sayyed’s calls. When Sayyed and his mother, Tahera Abdul Salam Sayyed, 52, who had also invested Ra15 lakh went to Ali’s residence, his mother, Mariya Bee, allegedly gave evasive replies.
Soon after, Sayyed discovered that several others had been similarly cheated. The victims include Farheen Arif Shaikh (Rs4 lakh), Jinat Abdul Hadi Shaikh (Rs2 lakh), Sameen Mubarak Sayyed (Rs9.5 lakh), Mohammad Hamza Hasham Shaikh (Rs11.42 lakh), Afsana Kasim Sayyed (Rs2 lakh), Afsar Bashir Shaikh (Rs4 lakh), Yatin Sargdhar Dhaktode (Rs8 lakh), and Nilofar Mohammad Hamza Shaikh (Rs12.2 lakh).
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In total, Ali is accused of collecting Rs83.12 lakh from ten investors under the guise of high-return goat investments.
The Police have registered a case under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Maharashtra Protection of Interests of Depositors (In Financial Establishments) (MPID) Act. Investigations are underway.
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