60-year-old businessman duped of ₹12.3 crore; father-son duo booked

MUMBAI: A 60-year-old businessman from Andheri has filed a complaint with the Economic Offences Wing (EOW), Mumbai police after he was allegedly duped of ₹12.31 crore by a father-son duo from Santacruz. The EOW has booked developers Gautam Ahuja and his father Jagdish Ahuja who allegedly duped businessman Anil Gehani by offering him 24% returns on the investment made in their real estate project. However, after accepting the investment the accused allegedly did not pay back the complainant.

Gehani is into property investment and knew the father son-duo since 2008.

As per the complaint, in 2010, Jagdish offered him 24% returns on his investment in his construction business. Gehani, who was also looking to buy a flat, trusted them and decided to invest, the EOW sources said. Between 2010-16 Gehani invested ₹6.4 crores in Ahuja Properties and Associates. Initially, Ahujas paid interest, however, later they defaulted in paying it, the source added. As per the FIR, Ahujas re-paid ₹2 crores of the principal amount and also paid ₹1.69 crores towards interest to

Gehani, as per the complainant, However, they did not pay ₹4.40 crore of the principal amount and promised interest on it – around ₹12.31 lakhs.

In December 2019, Ahujas gave him a post-dated cheque for ₹4.60 crores, but the same was dishonoured, the officer added. Gehani then got to know that Ahujas had also similarly defrauded many others. He then approached the police.

Police sources said that though the complainant claimed in the FIR that he was duped of ₹12.31 crore, the actual amount of fraud may reduce to ₹4.40 crore during the further course of the investigation.