Two finance firm owners dupe two businessmen of ₹64 lakh

Two businessmen were allegedly duped of lakhs by finance companies in Mumbai in the name of processing fees for arranging finances for their projects. In one case, a businessman was cheated of ?42 lakh, while in another case, a retired Mantralaya employee's brother was cheated of ?22 lakh. Police have registered cases against the accused and are investigating the claims and transactions.

MUMBAI: Two finance companies allegedly duped two businessmen of lakhs in the name of processing fees for arranging finances for their projects.

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In the first case, businessman Jyotibhushan Tiwari, 51, approached the MIDC police after he was cheated by the accused of ₹42 lakh. According to Tiwari, chairman of Sonachi Pharma company in Marol, they had purchased land in Hyderabad and the company required ₹500 crore to build their manufacturing plant and they were looking for a financer.

In January 2020, Tiwari met a man named Anthony Divya Kumar, 39, who had promised to arrange the required money. Kumar had told Tiwari that an American company named Chase Investment Ltd will provide the necessary finance.

In 2022, Kumar executed a memorandum of understanding and demanded his commission for getting the finance, Tiwari said, adding that he had given Kumar ₹42 lakh as commission. Kumar had promised that the amount will reflect in Tiwari’s account within 60 days.

“When the Tiwari did not get the promised amount, he asked Kumar to return the commission, however, the latter did not return the amount” a police officer said. “We have registered a case against Kumar and are verifying Tiwari’s claims and transactions,” the officer added.

In another case, a retired Mantralaya employee Asha Gaikwad filed a case against a finance company owner for allegedly cheating Gaikwad’s brother of ₹22 lakh in the name of processing fee to get him a loan of ₹5 crore.

According to the Charkop police, Gaikwad’s brother Ramesh Bansode was looking for financiers for his project. In February, he met Suhas Bhalerao who had introduced him to the accused, Darshana Botle, 30, owner of Capital Financing Services in Malad.

Botle had promised to arrange the required amount without any documentation for Bansode, provided she was paid a processing fee of ₹22 lakh. “When Botle was unable to get Bansode any finance, he asked her to return the processing fee and approached the police after she failed to do so,” a police officer said. “We have booked Botle for cheating and investigating further,” the officer added.