Mumbai Crime: 48-Year-Old Businessman Booked For ₹2.51 Crore Agri-Trading Fraud

Mumbai: The Amboli Police have registered an FIR against a 48-year-old businessman, Deepak Yadav, for allegedly duping three investors of Rs 2.51 crore by luring them into a fraudulent agricultural commodities trading scheme.

According to the FIR, the complainant, Ankesh Toshniwal, 32, a Goregaon East resident who operates a cement mixing business, alleged that Yadav induced him, his father Krushna Toshniwal, 66, and his brother-in-law to invest large sums in the purchase and trade of onions, soybeans and ginger between April 2018 and February 2023. The funds were given as friendly loans. Krushna Toshniwal and Yadav had worked at the same cement company, which was on the verge of closure in 2019.

During that period, Yadav was engaged in a fruit export business to European countries and was looking for investors. Krushna introduced him to Ankesh. The police said Yadav operated from an office in Andheri West under the name “Plutus Consultancy” and claimed to be involved in export and large-scale agricultural trading.

He allegedly assured the family that the funds would be used to procure commodities in bulk, store them in warehouses in Lasalgaon, Nashik and Satara, and sell them at higher market rates for profit. The family invested Rs 2.51 crore through RTGS and IMPS transfers — Rs 99 lakh by the father, Rs 46.50 lakh by the complainant, and Rs 1.05 crore by a relative. Yadav allegedly claimed the transactions generated returns exceeding Rs 21 crore and promised distribution of profits. When repayment was sought, he allegedly issued four cheques worth Rs 2.26 crore that bounced. He later became untraceable.

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