Mumbai: A sensational real estate fraud running into ₹17.74 crore involving forged government documents, fake MHADA allotment papers and a man posing as an Intelligence Bureau (IB) officer has been busted in Mumbai. The Economic Offences Wing (EOW) has made the first arrest in the case.
The accused, Prabhakar Shetty (70), was arrested from Karkala, Udupi district, Karnataka, and produced before Esplanade Court, where he was remanded to police custody till December 12. Shetty is accused of helping prime accused Rupesh Prabhakar Chaudhary (now deceased) dupe investors on the promise of low-cost MHADA flats.
According to investigators, Shetty played a key role by convincing several people and introducing them to main accused Rupesh Chaudhary, falsely assuring them that they would receive MHADA flats at nominal rates. During the probe, the EOW also found multiple transactions of fraud money in Shetty’s bank account, confirming his financial involvement.
The FIR was registered in Dindoshi police station on the basis of a complaint filed by Mohammad Aslam Qureshi (45), a businessman, who alleged that he along with several other investors was cheated of ₹17.74 crore. The accused named in the scam include Rupesh Chaudhary (deceased), his wife Nikki Chaudhary, Prabhakar Shetty (60), Roland Karkada (50), and others.
The complaint was filed by Mohammad Aslam Qureshi (45), a businessman, who alleged that Rupesh Prabhakar Chaudhary (now deceased) and his associates including his wife Nikki Chaudhary, Prabhakar Shetty, and Roland Karkada — cheated him and multiple investors of ₹17.74 crore between January 2023 and July 2025.
Qureshi stated that Chaudhary posed as a senior Intelligence Bureau (IB) officer with strong links to MHADA and MMRDA. He allegedly promised investors affordable flats under government housing schemes and presented forged MHADA allotment documents, fake GRAS challans and fabricated government letters to gain their confidence.
To strengthen his fake identity, Chaudhary allegedly traveled in a red-beacon vehicle, kept armed bodyguards, and was frequently photographed with IAS and senior police officers. He even organised an extravagant birthday celebration attended by bureaucrats, police officials, and celebrities from Taarak Mehta Ka Ooltah Chashmah, further convincing investors of his influence.
Qureshi and his associates were promised flats in prime Mumbai projects including Sugi Parimal (Dadar), Vraj Tiara (Worli), Soham Apartment (Walkeshwar), Green Edge Hill (Powai), Minerva, Rustomjee Crown, Oberoi 360 West and Prestige Jasdan. The investors were scheduled to complete registration on July 18, 2025, when they learned that Chaudhary had died of a heart attack in Nashik.
Qureshi alleged that it was only at Chaudhary’s funeral that he realized the accused was never an IB officer. He also claimed that Chaudhary maintained close associations with senior police officials the then Nashik DCP (now Dhule SP) Chandrakant Khandvi and Pimpri-Chinchwad DCP Vishal Gaikwad who were regularly in touch with him and allegedly helped facilitate his travel to Dubai.
Investigations have also confirmed that Chaudhary forged MHADA documents using the name of MHADA Vice-President Anil Diggikar, who has clarified that he had no connection with Chaudhary and that all documents are fake.
Suspicion has also been raised regarding Chaudhary’s sudden death. Qureshi has pointed to discr epancies in the post-mortem findings and red marks found on Chaudhary's chest. Meanwhile, the complainant has accused Nikki Chaudhary of withholding investor funds and threatening him with false legal cases.
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