Panvel bizman loses ₹2.75 cr to iPhone export fraud by Rajasthan company, 3 booked

The funds were received in the company’s bank account but were not returned, amounting to criminal breach of trust and cheating

NAVI MUMBAI: Three people from Rajasthan have allegedly duped a Panvel-based businessman of over ₹2.75 crore under the pretext of supplying 600 iPhones for export. The Panvel City police have booked them for cheating the trader on Tuesday.

Panvel bizman loses ₹2.75 cr to iPhone export fraud by Rajasthan company, 3 booked

The complainant, Vishal Sachdev Tyagi, 49, is a trader. According to the police, on August 14, he had placed an order for 600 iPhones from a Jaipur-based firm, owned and managed by the accused persons – Pushpapuri Laxmanpuri Goswami, a resident of Bhilwara, Abdul Jamalludin Shamim, and Aman Abdul Shamim, both from Panchyawala, Jaipur; and Waseem Ahmed, the company’s manager, whose full address remains unknown.

Between August and November 2025, Tyagi paid an advance payment of ₹2,75,57,079 for the consignment to the company’s bank account. However, after receiving the funds, the company neither delivered the iPhones nor sent a refund, despite Tyagi’s repeated follow-ups.

“The accused, acting in collusion, deceived the complainant by promising delivery of iPhones that were never supplied. The funds were received in the company’s bank account but were not returned, amounting to criminal breach of trust and cheating,” said the senior inspector Nitin Thakare of Panvel City Police Station.

A case was registered under Sections 316(2) (cheating), 318(4) (criminal breach of trust), and 3(5) (common intention) of the Bharatiya Nyaya Sanhita, 2023. No arrests have been made so far, and further inquiries are underway to trace the accused, the officer said.