Vashi, Mumbai: The Vashi Police have launched a search for a Mumbai-based agent who allegedly cheated a retired Lieutenant General from Delhi of Rs 2.25 crore by promising international funding for a healthcare project using a forged Citibank Singapore RWA (Ready, Willing, and Able) letter.
Accused Identified as Arpit Khattod
The accused has been identified as Arpit Khattod, director of Yash Finpro International Pvt Ltd, based in Malad, Mumbai. Police said Khattod lured the complainant with assurances of securing an overseas investment for a medical project in Kolhapur.
Healthcare Project and Alleged Fraud
The retired officer, who is also director of SGL Alpha-7, was developing an affordable healthcare project and in talks with Carson Asia Group Ltd for an investment of €300 million. To secure funding, the company needed a Standby Letter of Credit (SBLC) as collateral.
In February 2024, the complainant contacted Khattod, who claimed he could facilitate a credit letter worth €150 million via his Singapore contacts. Believing the offer, the complainant entered an agreement in October 2024 and transferred Rs 2.25 crore through RTGS and cheques.
Forged Citibank Document and Legal Action
After receiving the money, Khattod allegedly began avoiding communication. In December 2024, he emailed a forged RWA letter purportedly issued by Citibank Singapore on behalf of GMD Holding Company Ltd. Verification through a Singapore-based legal firm revealed the document was fake.
The retired officer demanded a refund, but Khattod allegedly refused. The complainant registered a case at Vashi Police Station under charges of cheating, forgery, criminal breach of trust, and misappropriation.
A Vashi Police officer said, “Preliminary investigation has revealed that the accused used fake Citibank documents to cheat the complainant under the pretext of arranging an international credit facility. A manhunt has been launched to trace him.”
