In a major breakthrough, Rabodi Police have arrested Zakirali Samadali Kazi (50), exposing a sophisticated investment fraud network that systematically swindled multiple investors of approximately ₹47.7 lakhs through a fake vehicle trading business. The elaborate scam involved at least 10 victims who were lured with promises of 50% returns, with investors including a Reliance store manager who was tricked into transferring over ₹22 lakh from his personal and joint bank accounts. While Zakirali has been taken into custody, his son Adnaan Kazi remains absconding, with police launching a comprehensive manhunt to apprehend him.
Lahu Rathod, Sub-Inspector at Rabodi police station, told LokmatTimes.com, "The father-son duo, operating under the name 'Falkish Enterprises', allegedly lured investors with a fraudulent vehicle trading business, promising lucrative returns. We registered a complaint against them in 2023 under Sections 420, 409, 406, 120B, and 34 of the Bhartiya Nyay Sanhita, as well as Sections 3 and 4 of the MPID (Maharashtra Protection of Interest of Depositors) Act."According to the police complaint filed by the primary victim Wajidali Syed, the father-son duo, systematically collected investments from at least 10 different individuals by fabricating elaborate stories about their business.
Investigators reveal that the accused would promise 50% returns on investments, show initial payouts to build investor confidence, use familial and emotional manipulation, and create fictitious business documentation. The scheme involved collecting significant sums from unsuspecting investors under the guise of a vehicle trading enterprise.
While Zakirali has been arrested from Mumbra, a manhunt is underway to apprehend Adnaan Kazi. Additional arrests are expected as the investigation progresses, with authorities working to trace and recover the allegedly fraudulently obtained funds.