Businessman Duped of ₹7 Lakh on Pretext of Doubling Money Through ‘Chemical Process’ in Goregaon

In a serious case of cheating, a businessman was allegedly duped of ₹7 lakh by conmen who falsely claimed they could double money using a chemical process. The accused allegedly staged a drama of preparing currency notes with chemicals and fled with the cash. Goregaon police have registered a case and launched a search for the accused.

According to police officials, the complainant, Lalan Mahto (34), is a resident of Goregaon and runs a fan regulator assembling business. In December 2025, he came in contact with two persons — Pawan (30) and his associate Sir (45) — in the Vasai area. The duo allegedly claimed that they could convert money into double the amount by using special chemicals to create fake currency that would pass off as genuine.

Police said that Pawan repeatedly called Mahto and gained his trust by assuring him that the invested amount would be doubled through a fixed procedure. Falling prey to the scheme, Mahto withdrew money from his bank account and also borrowed funds from friends, arranging a total of ₹7 lakh.

On February 12, 2026, in the morning, Pawan visited Mahto’s residence and reportedly took him to a D-Mart store and a medical shop on the pretext of purchasing materials required for the process. Around 6 pm, Pawan returned with his associate. The accused allegedly asked Mahto’s wife and children to step out of the house and then sprinkled white powder on the cash, pretending to perform a chemical treatment to change the notes.

They then wrapped the bundles in brown paper, prepared two packets, tied them in a towel, and handed them over to Mahto. Nearly an hour later, when the victim opened the packets, he was shocked to find white papers instead of currency notes. By then, both accused had fled from the spot, and Pawan’s mobile phone was found switched off.

Based on the complaint, Goregaon Police have registered a case of cheating and fraud against the accused. The police are scanning CCTV footage and analysing call detail records to trace the absconding suspects.