Mumbai: A 61-year-old grocery trader from Udupi district in Karnataka has alleged that he was cheated of more than Rs 35.26 crore over a decade on the pretext of investing in a prime Mumbai property. Based on his complaint, Khar police have registered a case under multiple sections of the Indian Penal Code against six persons, including alleged employees of a private bank and a Supreme Court advocate, who is also a chartered accountant. The Economic Offences Wing has initiated a probe.
About The Case
The accused have been identified as Pradeep Gangoli, Rajib Banerjee, alleged bank employees Sameeran Desai, Sudhir Garg and Amrish Singh, and Advocate-CA Abhay Tiwari. The complainant, K Panduranga Kamath, 61, is a grocery businessman. As per Kamath’s complaint, his cousin Mamta Gangoli and her husband Pradeep, residents of Mangaluru, approached him with a proposal to jointly invest in a property allegedly owned by the bank behind Khar Telephone Exchange.
Pradeep claimed the property would be sold through auction for Rs 7 crore and later resold at a higher price for substantial profits. Kamath was asked to pay Rs 35 lakh, half of 10% of the property value (Rs 70 lakh) as earnest money deposit. Between 2014 and 2023, Pradeep gave multiple reasons for the delay in registration and possession, allegedly citing increasing property value and ongoing cases related to the property before the RBI, Rajasthan High Court and the Enforcement Directorate (ED).
Between 2014 and 2024, Kamath transferred Rs 34.91 lakh to bank accounts held by Pradeep in Mangaluru. The accused allegedly told Kamath that the funds were further transferred, as per instructions of three purported bank employees to three accounts held by one Rajib Banerjee. Kamath alleged that Pradeep claimed to be in contact with the bank employees.
Suspecting fraud, he said he attempted to meet Garg in Delhi and later an RBI official in Mumbai, but both avoided him. He then approached the bank, where he was informed that no such auction of any Khar property had taken place and that the emails were not issued by it. Further inquiry revealed that Banerjee had resigned from the bank in 2010, following which he approached the police.
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