India

Man defrauded of ₹31 lakh with promise of lucrative returns

Abbas Tahebhai Mithaiwala (54), a resident of Thane, has been charged by the Sinhagad Police for allegedly defrauding a 49-year-old man out of ₹31 lakh. This year, the incidence happened in September and October, and on December 15, a formal complaint was filed.

Antar Sakharam Ambre (49), a resident of DSK Vishwa in Dhayari, has been identified as the victim.

Also Read: Final Salute to Martyr Akhilesh Kumar Rai: BSF Jawan Laid to Rest with State Honours in Emotional Farewell

A five per cent return on the investment amount of ₹1.10 lakh was given to the victim after the accused persuaded him to invest in a firm called Abinfinta Trade & advisory Ptv Ltd, Singapore, according to the FIR. The victim was able to get ₹11 lakh from the accused.

Once he gained his trust, Mithaiwala requested ₹20 lakh from the victim with the promise of a larger return, but he never gave him the money.

Later, the accused offered the victim a ₹60 lakh cheque, which bounced, when the victim requested on a return.

Also Read: JP Nadda’s Himachal Roadshow: Challenges Congress Credibility, Accuses Them of Offering “Guarantee of No Guarantee”

Additionally, he drafted an agreement pledging to give the victim some of his wife’s belongings, but he actually carried out the proposed agreement legally.

After the victim went to the police, a formal complaint was made in accordance with sections 406 and 420 of the Indian Penal Code (IPC). Officials stated that no arrests have been made as of yet.

Naiteek Bhatt

Recent Posts

‘In Kabul, A Cat Has More Freedom Than A Woman’: Revisiting Women’s Struggles Under The Taliban

The Taliban’s regime has since imposed over 100 laws restricting women's rights, stripping them of…

1 hour ago

PM Modi’s Gifts: A Glimpse Of India’s Cultural Heritage In Global Diplomacy

These gifts to world leaders reflect the diverse traditions, arts, and crafts of India, emphasizing…

4 hours ago

Dr Rajeshwar Singh Calls For Bold Goals To Make India A Global Power By 2047

Dr Singh stressed the importance of reaching a GDP of $15 trillion by 2047 to…

5 hours ago

Gautam Adani Faces Indictment In US: Legal Expert Vijay Aggarwal Dismisses Immediate Repercussions

Criminal lawyer Vijay Aggarwal weighed in on the charges against Adani. He believes the indictment…

5 hours ago

Adani Group Stocks Recover As Sensex nd Nifty Post Gains

After a major sell-off earlier in the week, Adani Group stocks, led by Ambuja Cements…

6 hours ago

Sensex Soars 1,961 Points, Nifty Gains 557 In Broad-Based Market Rally

A sharp rally in financial stocks and encouraging US labor market data fueled the uptrend.…

6 hours ago