Job Racket Busted in Mumbai: Police Uncover Multi-Crore Fraud Through Fake Firms; One Arrested

The Borivali police have busted a gang that allegedly duped unemployed youths by offering them jobs under the pretext of starting a wholesale garment trading and export business, misusing their personal documents to open multiple bank accounts and carry out transactions worth crores of rupees.

In this connection, the police have arrested one accused, identified as Sandipkumar Rajeshkumar Nahta alias Hitesh, who is currently in police custody. Investigations have revealed that the gang opened bank accounts in the names of fake companies using the documents of their so-called employees and routed online transactions worth several crores through these accounts. So far, deposits amounting to Rs 1.52 crore have been traced to two bank accounts, while similar high-value transactions have been detected in several other accounts, police said.

Police have also identified the involvement of Mohit Sharma alias Veer and Saurabh Shetty alias Tejas, who have been named as wanted accused. A search operation is underway to trace them.

The complainant, Sagar Thakur (40), a native of Gujarat, currently resides with his family in Bhayander. He was working as a salesman at a garment shop last year but is presently unemployed and was searching for a job.

In November 2024, Thakur was introduced by a friend to Mohit Sharma, who claimed that he was starting a wholesale garment sales and export business and offered Thakur a job with a monthly salary of Rs 35,000. Sharma asked him to visit Borivali, where he advised Thakur to open a bank account for salary purposes. Thakur’s friend Rajesh Sadanand Gurav was also roped in on similar lines.

The accused collected Aadhaar and PAN cards of both Thakur and Gurav. In December 2024, Sharma rented an office at Topiwala Centre in Goregaon. At Sharma’s insistence, Thakur and Gurav signed the rental agreement as witnesses. The company began operations on January 7, 2025, with Mohit Sharma shown as the owner and Sandipkumar Nahta handling accounts.

Soon after, representatives from various banks visited the office and collected documents from Thakur and Gurav to open bank accounts. Sharma allegedly provided different company names, mobile numbers and email IDs, while OTPs received on the registered mobile numbers were shared with bank officials. Although the accounts were opened in the names of Thakur and Gurav, the mobile numbers were controlled by Sharma.

After the accounts were activated, Sharma transferred Rs 20,000 into Thakur’s account as salary. Bank representatives continued visiting the office to open more accounts, with the accused claiming that multiple accounts were required for the upcoming import-export business. Trusting them, the complainant continued working. After bank verifications, all bank documents were handed over to Sharma by Nahta and his associate Saurabh Shetty. As per Sharma’s instructions, Thakur also dispatched bank kits to various online portals.

However, by the end of January, no garment business had started. Growing suspicious, Thakur checked his bank statement and was shocked to find that an account opened in his name for Galaxy Corporation had received deposits of Rs 1.12 crore. When he confronted Sharma with the statement, the accused tried to mislead him with excuses.

Further inquiry revealed that another bank account in Thakur’s name linked to the same company had transactions worth Rs 39.78 lakh. Thakur later learnt that between November 15, 2024, and August 19, 2025, multiple bank accounts were opened in his name and those of others, through which transactions worth several crores were carried out.

Realising he had been cheated, Thakur approached the Borivali police and lodged a complaint against Sharma, Nahta and Shetty. Taking serious note of the complaint, senior officers directed the registration of an FIR under relevant sections of cheating and the Information Technology Act.

During investigation, police found that the gang had offered jobs to several unemployed persons under the guise of starting a wholesale garment and export business, persuaded them to open bank accounts for salary purposes, and then misused their documents to open accounts in the names of bogus companies. These accounts were allegedly supplied to cyber fraudsters for illegal financial transactions.

Following the revelations, police launched a manhunt and arrested Sandipkumar Nahta on Tuesday. During interrogation, he admitted to opening multiple bank accounts on Sharma’s instructions.

Police said the main conspirator Mohit Sharma and his associate Saurabh Shetty are still absconding. Efforts are underway to trace all bank accounts opened by the accused, with preliminary investigations indicating transactions worth several crores, a senior police officer said.