Mumbai: Businessman Duped of ₹2.17 Crore in Andheri Fraud; Accused Files Sexual Harassment Complaint

A shocking case of fraud has surfaced in Andheri, where a businessman has been duped of ₹2.17 crore, which he had invested in shares. The Versova Police have registered a case of fraud against a woman and her associate Ketan Parikh. In a counter-move, the woman lodged a complaint of sexual harassment against the businessman after he served her a legal notice demanding the return of his money. The complainant has been granted anticipatory bail by a special sessions court in connection with the harassment case.

The businessman, Sanjay Moolchand Bhagnani, a resident of DN Nagar in Andheri, is a professional businessman. He had known the woman for the last eight years, maintaining a friendly relationship with her. They became good friends after meeting at a hotel in Khar and stayed in touch via phone and social media. At that time, Sanjay was residing in Surat but would occasionally visit Mumbai to meet her. It was the woman who introduced Sanjay to Ketan Parikh, informing him that Ketan was a stock operator managing investments for some private companies. Ketan suggested that Sanjay invest in shares, promising high returns. Since Ketan was a close friend of the woman, Sanjay trusted him and decided to go ahead with the investment.

Between May 2021 and August 2024, Sanjay transferred ₹2.17 crore to the woman and Ketan for the purpose of investing in shares. Over time, he regularly inquired about the status of his investments. During this period, the woman handed him four cheques, which bore her signature. However, when Sanjay asked for details about the investments, both the woman and Ketan began to evade his questions. Sensing something suspicious, he demanded his money back, but they refused to return the funds. Meanwhile, the woman and Ketan entered into a romantic love affair, and together they convinced him to invest in shares. However, they never bought the shares for which the money was given. Instead, they purchased a brand-new Range Rover car using the ₹2.17 crore Sanjay had provided for the investments.

Realizing he had been duped, Sanjay sent a legal notice through his lawyer to both the woman and Ketan. In retaliation, the woman filed a sexual harassment complaint against him at the Versova Police Station. Following her complaint, the police registered a case against Sanjay in April 2024. However, he has been granted anticipatory bail by the Dindoshi Sessions Court in the harassment case.

Sanjay has now filed a case of fraud and misappropriation against the woman and Ketan for not purchasing the shares and for using his ₹2.17 crore to buy a luxury car. The Versova Police are investigating the matter and are expected to interrogate the accused soon and record their statements.