Mumbai: Mumbai Police’s Economic Offences Wing (EOW) has arrested one accused from Bhayender in a major cheating and forgery case after a 61-year-old grocery businessman from Karnataka alleged that he was duped of over ₹35.26 crore on the pretext of investing in a prime Mumbai property allegedly owned by a private bank. The accused identified as Rajeeb Ratan Banerjee (52) and remanded in police Custody for five days.
Arrested Accused Remanded to Police Custody
Based on a complaint filed at Khar Police Station, an FIR has been registered under Sections 406, 409, 419, 420, 465, 471 and 120(B) of the Indian Penal Code. The case has since been transferred to the EOW. One of the prime accused, Rajeeb Ratan Banerjee, has been arrested and produced before the Esplanade Court, which remanded him to five days of police custody.
The accused includes Rajeeb Ratan Banerjee (Arrested), Pradeep Gangoli, Sameeran Desai (alleged HDFC Ltd employee), Sudhir Garg, Amrish Singh and Advocate and Chartered Accountant Abhay Tiwari
The complainant, K. Panduranga Kamath (61), is a grocery trader residing in Udupi district, Karnataka. According to the complaint, between December 2012 and 2023, the accused allegedly lured Kamath with promises of high returns by claiming they would purchase a prime property near Carter Road, Bandra, Mumbai, supposedly owned by HDFC Ltd, through auction and later resell it at a higher price.
₹35.26 Crore Collected, No Property or Refund
The accused allegedly collected around ₹35.26 crore from Kamath and his associate for purchasing the property but neither transferred the property in his name nor returned the money. To gain his trust, the accused allegedly created fake email IDs in the name of HDFC Ltd and sent forged communications regarding the auction and transaction.
Delays Explained Through False Legal Excuses
Kamath alleged that he was told the property would be auctioned for ₹7 crore and later sold at a significant profit. Over the years, he was given various excuses for delays, including claims of pending cases before the RBI, Rajasthan High Court and the Enforcement Directorate (ED). Upon verification, Kamath discovered that no such auction ever took place and the emails shown to him were fake. Further inquiry revealed that Banerjee had resigned from the bank in 2010.
After realizing he had been cheated, Kamath approached the police. The EOW is now investigating the money trail, forged documents, fake emails, and the role of each accused in the alleged ₹35.26 crore fraud. Further arrests and developments are likely as the probe continues.
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