Mumbai Crime: Three Booked For Allegedly Swindling Ghatkopar Businessman Of ₹1.82 Crore In Fake iPhone Investment Scheme

Mumbai: In a case of alleged financial fraud, three individuals have been booked for cheating a Ghatkopar-based businessman of Rs1.82 crore by luring him with promises of high returns from a purported iPhone buying-and-selling business. The Pant Nagar police have registered an FIR against Sanjay Pradhan, Ramesh Patel and his wife Deviben Patel and are conducting further investigations.

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Businessman Introduced to Accused

According to the FIR, the complainant, Brijesh Ramrekha Pandey, 50, resides with his family at Sudha Park, Ghatkopar (East), and runs a dairy business under the name Hanuman Dairy at Chembur. Pandey stated that he was introduced to accused Ramesh Madan Patel, a grocery shop owner from Chembur, by his late friend Ramesh Solanki in 2007.

In 2022, around the time of the Ganesh festival, Patel allegedly approached Pandey claiming that he had been operating an iPhone dealership for the past six years. He claimed to procure iPhones in bulk directly from the company and supply them to corporate clients at discounted rates, promising a 14 per cent profit within 40 days. A few days later, Patel introduced Pandey to co-accused Sanjay Pradhan, who was allegedly responsible for managing orders, deliveries and payments.

Pradhan reiterated the scheme, claiming that orders for 2,000 iPhones had already been secured. He allegedly offered Pandey a 10 per cent return from the total profit if he invested in the business, further stating that reinvesting the returns would generate compounded profits.

Investments Made, Returns Stopped

Patel’s wife, Deviben Patel, also allegedly visited Pandey’s residence to explain the scheme, following which Pandey and his family decided to invest. As per the accused’s instructions, Pandey transferred funds to the account of KP Enterprises, held at Bharat Co-operative Bank, Ghatkopar (East).

The FIR states that transactions took place between December 14, 2022, and October 3, 2023. For each transaction, notarised investment contracts were executed on KP Enterprises’ letterhead, with Sanjay Pradhan and Deviben Patel signing as witnesses.

Pandey, along with his wife Ambika Pandey, daughter Vaishnavi Pandey and son Gaurav Pandey, allegedly invested a total of Rs1.82 crore. While returns were paid until October 3, 2023, the accused thereafter began avoiding payments, citing reasons such as the launch of a new iPhone version and plans to open a showroom.

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Fraud Alleged, Complaint Lodged

When pressed for repayment, Patel allegedly issued cheques but repeatedly instructed Pandey not to deposit them. After the cheques expired, new ones were issued. As per the agreements, Pandey claims that a total amount of Rs14.74 crore was due as returns, which was never paid.

Pandey has alleged that Patel never held any iPhone dealership and that the invested funds were not used for purchasing iPhones. Following confirmation of the alleged fraud, Pandey lodged a complaint at the Pant Nagar police station.

Police have registered a case under Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (MPID) Act and Sections 318(4) and 3(5) of the Bharatiya Nyaya Sanhita (BNS) Act. Further investigation is underway.

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