Mumbai Fraud: 74-Year-Old Ex-BMC Employee Conned Of ₹55 Lakh By Developer

A 74-year-old retired BMC employee was duped of Rs 55 lakh by a developer. According to the FIR, Keshav Diwate (74), a resident of Borivali West, came into contact with the property broker, Kartikbhai Talati, in June 2021. Talati informed him that developer Satish Pandey, the owner of J Mesars Kavya Enterprises, was seeking an investor. Diwate was told that if he invests Rs 50-55 lakh, he would receive Rs 65 lakh in return. Talati added that a building near Kanheri Village in Borivali West had been developed by Pandey, and presented an investment opportunity, with the assurance that within 180 days of investment, Diwate would either receive Rs 65 lakh or a flat.

Subsequently, Diwate sold his lands and handed over a cheque of Rs 25 lakh to Talati along with Rs 30 lakh in cash. A Memorandum of Understanding was executed between Diwate and Pandey through Talati. However, Diwate never had a direct interaction with Pandey, and the MoU, signed by Pandey, was handed over to Diwate by Talati. Despite this, Diwate did not receive the promised money or flat. Diwate sought police intervention, prompting Talati to give him Rs 5 lakh in cash and an assurance the remaining Rs 50 lakh would be paid via cheque. However, subsequent attempts by Diwate to inquire about his money were avoided by both Talati and Pandey.

Eventually, Diwate filed a case against Talati and Pandey under sections 34 (common intention), 406 (breach of trust), and 420 (cheating and dishonesty) of the Indian Penal Code at MHB police station on December 12.