Thane: Builder Held For Cheating Financier Of ₹20 Lakh

Thane: Builder Held For Cheating Financier Of ₹20 Lakh

Aggrieved lent the money owing to the trust on his neighbour, who is one of the accused

Prem MoreUpdated: Friday, August 18, 2023, 11:29 PM IST
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Thane: Builder Held For Cheating Financier Of ₹20 Lakh | Representative Image

Thane: The Naupada police have arrested builder Chetan Patel for allegedly duping a financier of ₹20 lakh. They are on the look out for two other accused, Charu Tolat and Ambalal Patel, named by the aggrieved, Kekin R Shah.

According to the complainant, Tolat was his neighbour at the Panchavati society, Juhu Gully, Andheri West for 16 years. Several months ago, she approached him along with Chetan and Ambalal, with a request for a loan of ₹20 lakh. They told Shah that their company, N K Constructions, was redeveloping an old bungalow in Alibaug and they needed finance for it. They even showed him the bungalow and promised to repay the debt in nine months.

Financier duped of total 65 lakh

The accused issued seven post-dated cheques for repayment of the loan. However, the cheques bounced when deposited on the specified dates. Shah also lent money via cheques, which were issued from his Thane office under the jurisdiction of the Naupada police station.

It has been learnt that another businessman has also filed a complaint against the accused for duping him of ₹65 lakh. The police suspect that the trio might have cheated several others. Shah said that he arranged for the loan since he knew Tolat for several years. “I had no reason to suspect that she would cheat me. I arranged the money in good faith,” he added.

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