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A 59-year-old doctor from Mumbai was allegedly duped of more than Rs 4 crore by a businessman under the pretext of business investment. The accused, Sunil Lodha, who had been on the run for nearly a year, was finally arrested by Borivali Police this week. According to the police, Sunil Lodha had incurred massive losses in the share market and was heavily in debt. Unable to repay his dues, he went absconding about a year ago. The matter came to light during the police investigation into a cheating case filed by the doctor. The complainant, a practising doctor, lives in Parel with his family and runs private clinics in Borivali and Dadar, where he works two to three days a week. Six years ago, Sunil had visited his Borivali clinic for treatment related to physical weakness and health issues. Over time, their interaction turned into a close friendship. During one of their meetings in June 2020, Sunil claimed he had started a new hardware and sanitaryware business named Shubham Sanitary and Hardware in Malad. He said the business dealt in items such as plywood, laminates, Fevicol, pine wood, and lab materials, and was running profitably. Seeking to expand the business, he requested financial assistance from the doctor and assured him of sharing the profits. Trusting Sunil, the doctor decided to invest. Between July 2020 and March 2021, he transferred Rs 50 lakh to Sunil, who later returned Rs 38 lakh, further boosting the doctor's confidence. Subsequently, the doctor and his family collectively invested a total of Rs 4.01 crore in Sunil’s business. However, repeated inquiries about the business’s performance and material purchases were met with vague responses. Suspecting foul play, the doctor began demanding the return of the invested amount. It was then that Sunil confessed to having invested the money in the share market instead of the hardware business, where he suffered massive losses and fell into debt. After defaulting, Sunil switched off his phone and disappeared. Even his family and relatives claimed they had no information about his whereabouts. A missing person report was later filed by his relatives at the Dindoshi police station. As the deception became evident, the doctor lodged a formal complaint at the Borivali police station. After due verification, the police registered a case of cheating and misappropriation against Sunil Lodha in January 2024. Despite being declared wanted for nearly a year, Sunil remained elusive. The police continued their search and finally detained him on Tuesday for questioning. During interrogation, he confessed to defrauding the doctor, identified as Arun Kumar Gupta. The investigation is ongoing.

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