A shocking case of financial fraud has come to light in Mumbai’s Chembur area, where a local businessman was allegedly cheated of over ₹1.06 crore on the pretext of a high-return investment.
According to the RCF Police, the complainant, Sunil (52), who is engaged in the construction and transport business, lodged a complaint stating that Mahesh kumar Motyani and his business partner Jyotsna Chaudhary lured him into investing in the import of cashew nuts and teakwood by promising a 30% profit.
The accused reportedly introduced themselves as directors of MJY Trading Pvt. Ltd. and MJ International, claiming they imported raw cashews and teakwood from Ghana (Africa), generating profits between 25% and 30%. Initially, they provided small returns on minor investments to gain Pol’s trust before persuading him to invest a larger amount.
Believing their claims, Pol transferred funds to MJ International’s bank account in four separate transactions. Later, when he demanded repayment, the accused issued two cheques of ₹50 lakh each. However, both cheques bounced — one was from a blocked account, and the other due to insufficient funds.
After repeated delays and alleged threats, Pol discovered that similar cheating cases were registered against the duo in Ulhasnagar, Jaipur, and Delhi. Following his complaint, the RCF Police registered a case against both accused under charges of cheating, criminal breach of trust, and criminal conspiracy.
Police officials said an investigation is underway to trace the accused and determine if more victims are involved in the racket.