Kin dupe trader of ` 16 cr, EOW to investigate case

A Juhu-based businessman has lodged a complaint with the Economic Offences Wing (EOW) against three of his relatives for allegedly defrauding him to the tune of Rs 16 crore. The accused had allegedly bought immovable properties and invested the money in government bonds, mutual funds and shares from the siphoned money, police said. According to the police, the complainant identified as SD Dalal, 44, is a resident of Juhu Scheme. As per the police, the offence had taken place over a period of ten years.

The complainant has alleged that three of his relatives had conspired together in order to dupe the victim and his family to the tune of Rs 16 crore, police said.

"As per the complaint, victim and his family had handed over their bank related work to some of their relatives. The victim has alleged that his relatives had forged the signatures of the victim in order to fraudulently transfer money from his company's account in their personal accounts," said an EOW officer.

He added, the accused then bought immovable properties and invested the money in government bonds, mutual funds and shares.

"Recently when the fraud came to light, the victim got a case registered against the accused with the Juhu Police last week and the said case has been then taken over by the EOW for further investigations," the officer said.

An offence has been registered under sections 120B (criminal conspiracy), 408 (Criminal breach of trust by clerk or servant), 465 (Punishment for forgery), 467 (Forgery of valuable security, will, etc), 468 (Forgery for purpose of cheating) and 471 (Using as genuine a forged document) of the Indian Penal Code. "We just registered an offence and have initiated a probe. We will call those who have been named in the FIR for questioning in coming days," the officer said.