Mumbai Fraud: Businessman Conned Of ₹64.54 Lakh By Neighbour

A case has been registered against a man for allegedly cheating a businessman of Rs 64.54 lakh in business. The case was registered under sections 406 (breach of trust), 420 (cheating and dishonestly), and 506 (criminal intimidation) at Andheri police station on Thursday.

According to the FIR, Karandeep Singh Lugani (32) and the accused Shelton Waaz, both businessmen residing in Deepti Plus, JB Nagar, Andheri East, knew each other for 13 years. Lugani has an overseas manpower family business and Waaz has a rental car business. They maintained a friendship, spending nearly two to three hours together daily.

In February, Waaz visited Lugani's father's office and informed him about his rented car business. He also offered a partnership and promised increased profits. Lugani's father discussed this with his two sons and decided to join Waaz's business.

Following Waaz's advice, the Lugani family purchased 19 cars, both in cash and through loans amounting to crores. Waaz assured the Lugani family that they would receive a monthly rent of Rs 22.17 lakhs for these 19 cars. However, since May, Waaz failed to provide the Lugani family with their share of Rs 46.79 lakhs.

Additionally, out of 19 cars, nine remained with Waaz, valued at Rs64.65 lakhs. Furthermore, Waaz and his wife took around Rs 8 lakh from the Lugani family for the purchase of a car, but they neither bought the car nor returned the money, using it for other purposes. The Lugani family alleges that Waaz and his wife embezzled the funds and, when questioned about repayment or the cars, threatened to kill them.

Eventually, Lugani filed a case against Waaz at Andheri police station.