A case of financial fraud has come to light in the Sakinaka area, where a couple allegedly duped a businessman and eight of his acquaintances by luring them with promises of high returns from share market investments. After embezzling nearly Rs 70 lakh, the accused couple fled, and the Sakinaka Police have registered a case against them under various sections of the Bhartiya Nyaya Sanhita.
The accused have been identified as Dhaval Vimalkant Kakkad and Sanjana Dhaval Kakkad. Police have launched a search operation to trace the absconding couple.
According to police officials, Yogesh Kemji Bhanshali, a businessman residing in the Sakinaka area and engaged in shoe sales, was acquainted with Dhaval Kakkad, who was formerly employed with a private bank. Dhaval reportedly told Yogesh that he was now involved in share market investments and had successfully secured high returns for several clients.
Believing his claims, Yogesh, along with his acquaintances Ramesh Vershi Dagha, Jayesh Harish Sanda, Vinod Virji Mange, Ganesh Karman Mor, Ravi Ramesh Dagha, Manish Navin Mange, Suresh N. Bhanshali, and Jayesh N. Bhanshali, invested money as per Dhaval and Sanjana’s advice.
Encouraged by the assurance of good returns, the group cumulatively invested Rs 1,20,15,402 with the couple over a period of time. Out of this amount, they received Rs 49,28,787 back. However, the couple allegedly misappropriated the remaining Rs 70,86,615 and fled, switching off their mobile phones and cutting all contact.
Realising they had been cheated, Yogesh Bhanshali filed a complaint with the Sakinaka Police. Following an inquiry, the police registered a case against Dhaval and Sanjana Kakkad under charges of cheating, criminal breach of trust, and relevant sections of the Maharashtra Protection of Interests of Depositors (in Financial Establishments) Act.
Sources reveal that the couple may have similarly duped several other investors by promising high returns on share market investments. A detailed investigation is underway.