A businessman was duped of ₹85 lakh in a fraudulent investment scheme that promised to double the amount in just 15 months. Dindoshi Police arrested Anwar Ali Mohammed Hassan Machhiwala, the main accused, nearly a year after the incident. Currently, he is in police custody, and further investigations are underway.
The case also revealed the involvement of three others—Sakhi Haider Syed alias Bhallu, Archana Satyendra Singh, and Naji Sakhi Haider Syed—who are absconding. The police are actively searching for them.
The complainant, Ishaq Hunnemiya Syed, a Jogeshwari-based businessman dealing in import-export, was introduced to Sakhi Haider five years ago through his elder brother. Sakhi, who ran a scrap trading business, gained Ishaq’s trust over time by borrowing money for business needs and repaying it promptly.
In October 2019, Sakhi introduced Ishaq to his wife Naji, Archana Singh, and Anwar Ali, claiming they were also involved in the scrap trading business. The group convinced Ishaq to invest in a project, promising significant returns. They assured him that his investment would double within 15 months.
Trusting their promise, Ishaq invested ₹85.48 lakh in the venture. Initially, the group kept their word by repaying smaller amounts to build his confidence. However, when the promised period elapsed, Ishaq tried contacting them to recover his returns, only to discover that they had blocked his phone number.
Sensing foul play, Ishaq reached out to Sakhi using a friend’s phone. Sakhi promised to repay ₹1.7 crore by December 2020 but failed to keep his word. When Ishaq persisted, the accused issued threats, stating, “You were just a pawn for us to extract money. We never intended to return your investment. Call us again, and we will kill you.”
Following these threats, Ishaq approached Dindoshi Police and filed a complaint against the five accused. The police registered a case under IPC Sections 406 (criminal breach of trust), 420 (cheating), 506(2) (criminal intimidation), and 34 (common intent).
While all the accused initially fled, the police launched a special operation, which led to the arrest of Anwar Ali Machhiwala. Efforts are ongoing to trace the remaining accused.
Further investigation is underway to uncover the full extent of the fraud and the accused's activities.