Mumbai: Malad Police Capture Alleged Mastermind In ₹1.5 Crore Business Fraud Case

After fourteen months, Malad police have apprehended Sadab Sharafat Qureshi, alias Rihan, one of the main wanted suspects in a scheme to defraud a businessman and his close associates of approximately Rs 1.5 crore.

Details of case

The complainant, Imran Abrar Khan, a resident of Malavani in Malad, has been involved in the mobile phone retail business for two decades and operates a shop in Sainath BMC Market. Khan sourced his stock from wholesale markets in Dadar and Manish Market.

In 2018, Khan was introduced to Sadab Qureshi by his relative Parvez Parve, who claimed Qureshi could provide mobile phones at discounted rates due to his purported contracts with various companies. Qureshi, residing in Ryan Park, Shivaji Nagar, Govandi, showcased images of mobile phones to Khan, assuring him of profitable returns if he invested at least Rs 1.5 crore. Qureshi facilitated a meeting with someone posing as Nilesh Malviya, purportedly the CEO of an iPhone company, to solidify Khan's trust.

Trusting Qureshi's promises, Khan and his associates collectively invested around Rs 1.5 crore between July 2019 and February 2022. However, Qureshi consistently failed to deliver the promised mobile devices, citing various excuses such as warehouse fires causing delays. When Khan demanded repayment, Qureshi issued eight cheques totalling Rs 54 lakh, only to stop payment on them later.

One and a half years ago, Khan asked Qureshi again about the money. Then Qureshi told him that he will not get any money. Qureshi threatened Khan saying that if he asks for money again and again, he will enter his house and shoot him and threatened to kidnap his child from school. He also threatened on the phone that he has connections with the underworld and it will not take long to send him to Sky.

Facing threats and intimidation from Qureshi, including threats of violence against him and his family, Khan approached Malad police. Following an investigation, a case was filed against Qureshi for embezzlement and making death threats. Qureshi evaded arrest and remained elusive for fourteen months until a specialized unit of Malad police finally apprehended him during a search operation on Friday.

Interrogation revealed Qureshi's involvement in defrauding Khan and others using a similar modus operandi.