Mumbai: The Ghatkopar police have registered a case against a couple Firdos Waseel Sayyed, 48 and Waseel Wasim Sayyed, 48, residents of Chirag Nagar, Ghatkopar (West) for allegedly cheating investors of Rs 74.88 lakh under the pretext of offering high returns through a garment business investment scheme. The case has been filed under Sections 318(4), 319(2), and 3(5) of the Bharatiya Nyaya Sanhita (BNS).
Complainant Introduced To Scheme By Friend
According to the FIR, 30-year-old Ruksar Shaheen Sadaf Hussain Ansari, a homemaker from Chirag Nagar, Ghatkopar (West), lodged the complaint. Her husband serves in the Indian Navy, and the couple lives there with their two children.
In February 2025, Ruksar’s childhood friend, Alfiya, introduced her to Firdos Sayyed, who claimed to have a lucrative investment scheme. Firdos allegedly promised that if Ruksar invested Rs 10,000, she would receive Rs 30,000 within two months. Trusting her words, Ruksar paid Rs 10,000 in cash on February 23, while Alfiya invested Rs 4 lakh.
Victim Persuaded To Invest Larger Amounts
When the promised returns did not materialize, Firdos reportedly claimed the funds were “stuck” and asked for more time. Later, she convinced Ruksar to invest Rs 1.4 lakh, promising a return of Rs 25 lakh by June 30, citing that she was investing the money through one Aslam Malik, who was said to be in the diamond and jewelry business and returned “four times the invested amount.”
Over time, Firdos continued persuading Ruksar to invest larger sums, claiming bigger profits. While Ruksar was visiting her hometown in Bihar in May, Firdos allegedly offered Rs 4 crore in returns if she invested Rs 8 lakh.
After returning to Mumbai, Ruksar arranged the funds by mortgaging her gold jewelry and borrowing from her brother, Faiyaz Alam, handing over Rs 8 lakh in cash to Firdos on June 28.
Brother Also Cheated With False Promises Of High Returns
Ruksar was later introduced to Firdos’s husband, Vaseel Sayyed, who claimed to have been in the investment business for 14 years. A few days later, Firdos demanded another Rs 10 lakh. She allegedly said that the invested money would be returned only after this additional payment was made.
When Ruksar explained her financial difficulty, Firdos allegedly asked her to call her brother Faiyaz from Bihar. Faiyaz agreed to provide the money and decided to travel to Mumbai. To expedite his arrival, Firdos allegedly gave Rs 20,000 to Ruksar to book his flight ticket.
After Faiyaz reached Mumbai on July 7, Firdos met him and Ruksar at Naz Hotel in Kurla, where she claimed to have bought two flats in Worli using the profits earned from the investment scheme.
She then persuaded Faiyaz to invest Rs 4 lakh, promising Rs 35 lakh in four days. Faiyaz took a bank loan and paid Rs 8 lakh, followed by another Rs 1.3 lakh, on Firdos’s demand. Later, Firdos allegedly deposited Rs 50,000 into Ruksar’s bank account, claiming that the amount had been gladly sent by Aslam Malik.
Cheque Forgery And Threats Reported
After repeated demands for repayment, Firdos allegedly told Ruksar that an agreement would be signed at Kurla Court and that a cheque of Rs 22 lakh would be issued. Later, she shared an image of a State Bank of India cheque issued in the name of Lalji Saggad Yadav on a WhatsApp group.
When Ruksar asked Firdos for a cheque from her own name, Firdos allegedly refused, misbehaved with her, and told her to “complain wherever you want.”
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Case Registered, Investigation Underway
Realizing she had been cheated, Ruksar approached the Ghatkopar Police Station and lodged a complaint of financial fraud. Based on her complaint, a case has been registered against Firdos and Vaseel for allegedly duping her and other investors of a total of Rs 74.88 lakh. Police said the investigation is underway.
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