Mumbai Crime: Dadar Police Book Couple For Allegedly Cheating Prabhadevi Woman Of ₹59 Lakh In Investment Scam

Mumbai, March 3: The Dadar Police have registered a case against Namrata Chandiramani and her husband Pankaj Masand for allegedly cheating a 42-year-old woman of Rs 59 lakh by luring her with promises of high returns on investment.

Friendship turns into alleged fraud

According to the FIR, the complainant, Bhavika Mitesh Solanki, resides on Sayani Road in Prabhadevi with her mother, Prabha Wadela, and her two daughters, one of whom is a child artiste.

In January 2024, Solanki came into contact with the accused, Namrata Chandiramani, who, along with her husband, had rented a shop near Solanki’s residence. The two women soon developed a close friendship.

In May 2024, during a trip to Lonavala, Chandiramani allegedly informed Solanki that she and her husband operated companies named Jiaram Enterprises, Luxury Loot and Jeet Win. She claimed that investments in these firms would yield lucrative and guaranteed returns.

The couple allegedly assured Solanki and her mother that there was no risk involved and even promised to sell their Colaba flat to compensate for any potential losses.

Alleged inducement and financial transactions

The accused later sought financial assistance from Solanki and her mother, offering them a partnership in Jiaram Enterprises. They allegedly told them that an account had to be opened with Abu Dhabi Bank in Goa, assuring that once opened, large monthly deposits of Rs 5 lakh to Rs 10 lakh would start reflecting in the account.

Solanki and her mother were taken to Goa under the pretext of opening the bank account. However, they were allegedly not taken to any Abu Dhabi Bank branch. Subsequently, Solanki began receiving emails claiming that the account had been opened and that funds would be credited soon.

When she persistently followed up regarding the promised returns, she discovered that the accused had vacated their rented premises and also shut their Colaba residence before reportedly relocating to Goa.

The complaint further states that Chandiramani borrowed gold jewellery from Solanki on several occasions, citing family functions, but never returned it. When questioned, she allegedly claimed to have pawned the jewellery with the owner of Mahadev Jewellers in Khar Road.

In total, the accused are alleged to have taken 114 grams of gold jewellery and 1.18 kilograms of silver ornaments and articles from Solanki and her mother.

Additionally, the couple allegedly collected money from Solanki’s daughters’ bank accounts and from associates at the studio where her daughter works as a child artiste, under the pretext of investment.

Solanki and her mother were also allegedly induced to hand over USD 3,200 on the promise of converting it at a favourable exchange rate of Rs 100 per dollar.

Overall, the accused allegedly misappropriated Rs 12.59 lakh in cash and gold and silver ornaments valued at Rs 46.50 lakh, bringing the total alleged fraud to Rs 59 lakh.

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Case registered under BNS

The Dadar Police have registered an offence under Sections 318(4) and 3(5) of the Bharatiya Nyaya Sanhita (BNS) Act and have initiated further investigation into the matter.

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