A 58-year-old woman residing in Dubai, Amrita, and her sister Anjana, were allegedly duped of Rs3.85 crore in the name of investment. When the sisters demanded their money back, the accused allegedly threatened them with dire consequences, claiming connections with a Dubai-based gangster.
Following their complaint, an FIR has been registered at the Mumbai Airport Police Station, and the case is now being investigated by the Anti-Extortion Cell (AEC) of the Mumbai Crime Branch.
According to the complaint, Amrita was introduced to the accused, Hariharan alias Hari Janardhan Iyer (52), in 2021 through her sister Anjana. Hariharan, the owner of Navi Mumbai-based Saish FinCap, claimed that his company was a commodity exchange finance firm offering up to 18% annual returns on investments. He allegedly gained their trust by name-dropping high-profile investors and convinced them to invest a large sum.
To avoid excessive income tax on their inherited wealth, Amrita and Anjana, on the advice of their chartered accountant, decided to invest the amount. Between 2021 and 2022, they transferred a total of ₹3.85 crore to Hariharan’s company via RTGS, NEFT, and cheques.
Hariharan had assured them that the entire amount, including principal and interest, would be returned within 11 months. However, when the due date arrived, he cited financial losses and postponed the repayment by six months.
Even after the extended deadline, the amount was not returned, prompting the sisters to follow up repeatedly. Eventually, on September 18, 2023, Hariharan gave them a written assurance, promising to return Rs3.75 crore by March 31, 2024.
However, when the deadline passed and no payment was made, the sisters confronted Hariharan again. This time, he claimed that the money had been used to fund a film project and warned them against pressing for repayment before the film's release.
Frustrated by the repeated delays, Amrita traveled from Dubai to India to confront Hariharan, but he flatly refused to return the money. Even when she tried contacting him from Dubai, he allegedly abused her over the phone and issued threats.
“I will get you eliminated from Dubai itself. I have strong connections with gangsters there, and my company holds influence in the region,” Hariharan reportedly told her.
Following these threats, Amrita and Anjana lodged a complaint with the Mumbai Police. The case is currently under investigation by the Mumbai Crime Branch’s Anti-Extortion Cell.