Mumbai: The Borivali police have arrested one of the main accused wanted since past eight months in a conspiracy of defrauding a builder of Rs 75 lakh in Kandivali. Accused Jai Chimanlal Desai is currently in police custody. Police said that Surendra Chourdia and Arvind Jain are co-accused along with Jai in these crimes.
Amount taken in the name of processing fees
Sohanlal Motilal Jain, a builder by profession residing with his family in Thakur Village, Kandivali, needed a loan for his business Suvidha Home Nirman Private Limited. One of his relatives introduced him to Arvind Jain and Surendra Kumar who promised to get him a loan of Rs 10 crore and said that they would take a twenty per cent commission from him. After agreeing to this condition, both of them introduced him to their main partner, Jai Jain.
Assuring him of getting the loan approved as soon as possible, Jai took his documents along with approximately Rs 75 lakh in instalments from Sohanlal for loan processing and other work. However, Sohanlal did not get the loan within the stipulated time limit.
When these three individuals failed to secure the loan, Sohanlal Jain started demanding his money back. Jai showed an FD to Sohanlal and said that his loan would be processed soon. When Sohanlal went to the bank with this FD, he discovered that the FD was fake. Realising the fraud committed by these three, he filed a complaint with the Borivali police.
In February 2023, the Borivali police registered a case against Jai Desai, Surendra Kumar Chourdia, and Arvind Jain for embezzling Rs 75 lakh. As soon as the case was registered, all three of them fled.
Jai Desai, the main accused in this conspiracy, had been on the run for eight months. Finally, the police arrested him two days ago. After his arrest, he was remanded in police custody by a local court.