Mumbai Businessman Falls Victim to Multi-Crore Loan Scam
A Navi Mumbai businessman was defrauded of Rs 1.25 crore by four individuals who promised to arrange substantial business loans. The alleged scammers used fake cheques and documents to extract funds under the pretext of loan processing fees. Police have registered a complaint but no arrests have been made.
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A businessman from Navi Mumbai fell victim to a sophisticated scam that cost him Rs 1.25 crore. The police reported the case on Monday after the 78-year-old complainant alleged that four individuals promised to arrange loans worth hundreds of crores for his machine tools company.
The accused, who contacted the victim between December 2023 and March 2025, reportedly fabricated demand drafts and cheques from three banks, using forged signatures and counterfeit seals to gain trust. They allegedly charged hefty fees for loan processing and administration without delivering any loans.
Despite transferring Rs 1.25 crore to accounts linked to the accused, the businessman did not receive any loans. A case has been registered under multiple sections of the Bharatiya Nyaya Sanhita against the suspects, identified as Dhanesh Deshmukh, Pramila Lad, Prashant alias Raju Pillai, and Pushpa Gupte. However, no arrests have been made yet.
(With inputs from agencies.)
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