Nagpur: A builder fell victim to a fraud and loses a staggering Rs 72 lakhs under the pretext of obtaining a loan of ten million dollars (Rs 80 crore). He immediately sensed the fraud and lodged complaint with the police to prevent the accused from trapping others.
The accused, identified as Ashiq Ali Mohib Ali Nathani, a resident of Kharghar and Hasan Ahmed Sheikh, a resident of Panvel, have been booked by Pachpaoli Police on fraud charges. After sensing the fraud, builder and developer Mahesh Nanikram Sadhwani (58), a resident of 47 (A), Sindhu Nagar Society, Jaripatka immediately lodged complaint against the frausters with police, thinking that the fraudster should not be able to dupe others.
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Wednesday 26Feb. 2025
According to police, the accused had approached Sadhwani because of his high profile, by offering him a loan at an low rate of interest from a foreigner. As part of their bogus scheme, Nathani claimed to be the chairman of an investment bank — RS Investment Bank and Trust State of Delaware RSI. He stated that the bank would provide a loan to Sikkim Government. To build credibility, Nathani even displayed a photograph of the said loan agreement.
When Mahesh agreed to receive the loan, Nathani informed him that he needed to transfer Rs 72 lakhs as taxes to process the loan through the Reserve Bank. Trusting the accused, Mahesh handed over the money to both Nathani and Sheikh. It was then revealed that the so-called loan was entirely bogus. The accused provided him with two fake Demand Drafts (DDs) worth Rs 5 million dollars each. These forged documents were deposited by Mahesh into the Shikshak Sahakari Bank at Kamal Chowk in Pachpaoli.
After the bank discovered the fake DDs, Mahesh confronted Nathani and Sheikh, demanding the return of his money. The fraudsters switched off their mobile phones. On the complaint of Sadhwani, Pachpaoli Police have registgered a case under Sections 420, 406, 416, 467, 468, 471 and 34 of the Indian Penal Code.
