A shocking case of financial fraud has come to light in Kandivali, where a businessman was allegedly cheated of approximately Rs 18.5 lakh after being promised that his investment would be doubled in 20 months. Kandivali police have registered a case of cheating and misappropriation against the accused, Santosh Kumar Bhagwan Singh, who is currently absconding.
According to the police, the complainant Farukh Chane Manihar, a businessman residing in Kandivali, had known Santosh Kumar for the past six years. Their acquaintance developed into a friendship, during which Santosh Kumar claimed to own a company named Gogerton Mutual Benefits Nidhi Limited. He lured the complainant to invest in his firm, promising to double the invested amount within 20 months.
Trusting his words, Farukh invested Rs 18.5 lakh in installments in the said company. However, even after five years, neither did he receive the promised returns, nor was his principal amount returned.
Despite repeated follow-ups, Santosh Kumar kept evading repayment with various excuses. Realizing that he had been cheated, Farukh filed a complaint with the Kandivali police. Following verification of the allegations, police registered a case under relevant sections for cheating and misappropriation.
Santosh Kumar fled before the FIR was registered, prompting police to launch a special operation to trace and arrest him. Sources indicate he may have defrauded several other individuals using a similar modus operandi.