Mumbai News: Hotel Fountain City Fraud Case Handed Over To EOW As ₹25.42-Crore Cheating Complaint Surfaces

Mumbai: The Mumbai Police have registered a case of cheating and criminal breach of trust involving a massive financial fraud of ₹25.42 crore, and subsequently transferred the investigation to the Economic Offences Wing (EOW). The FIR, initially lodged at the Parksite Police Station, has now been handed over to EOW for detailed scrutiny.

Accused Booked Under Multiple BNS Sections

The case has been filed against Talha Abbas Mukhi, Aamir Talha Mukhi, Adil Talha Mukhi, and others associated with the hotel under Sections 316(2), 318(4), 324(5), 336(3), 351(2) and 3(5) of the Bharatiya Nyay Sanhita (BNS) 2023.

Complainant Alleges Investment Fraud at Hotel Fountain City

Complainant Shivchandra Subanna Shetty has alleged that he was cheated of ₹25.42 crore. The offence reportedly took place between August 2023 and 2024 at Hotel Fountain City, Sasoon Navghar, Taluka Vasai, District Palghar.

According to the FIR, the accused partners and owners of Hotel Fountain City allegedly lured the complainant into signing a 25-year business partnership agreement, promising revenue generated from goods sold through the hotel.

Investment in Repairs and Renovation Allegedly Misused

It has been alleged that between August 2023 and 2024, the complainant’s company was induced to spend ₹25.42 crore on repairs, renovation, and other operational expenses for the hotel. However, after receiving the investment, the accused allegedly failed to honour the partnership agreement, refused to return the funds, and breached the complainant’s trust, thereby committing fraud.

EOW to Conduct Detailed Financial Probe

Following directions from senior officials, the case has been officially transferred to the Economic Offences Wing, where a detailed financial investigation is underway. Officers are examining the financial trail to determine the involvement of additional individuals.

Budget Advertisement: To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/