Housing Society member booked for ₹3 lakh fraud

The FIR states that society members decided to open a joint account at Cosmos Bank Lulla Nagar branch

The Wanowrie police have booked Varshney Jaivardhan, a member of the Manikchand Malabar Hill Co-operative Housing Society, for cheating the society of ₹3 lakh. As per the complaint filed by Imtiaz Lokhandwala on December 16, Jaivardhan has been booked under IPC sections 406 and 420 and is accused of transferring society maintenance funds worth ₹3 lakh to his account.

Flat owners contributed towards the funds which were deposited in the said account. (REPRESENTATIVE PIC)

The FIR states that society members decided to open a joint account at Cosmos Bank Lulla Nagar branch on April 28, 2021, in the name of Varshney Jaivardhan and Kirti Shah.

Flat owners contributed towards the funds which were deposited in the said account. In February 2023, a society committee was formed and a new bank account for the society was opened with Saraswat Bank at Kondhwa.

The earlier Cosmos bank account had ₹3.37 lakh as a balance as of March 31, 2023. An amount of ₹25,000 was transferred from the Cosmos Bank account for opening the new Saraswat Bank account dated May 12, 2023, following which there was a remaining balance of ₹3.12 lakh in the old account. Thereafter all the society members regularly deposited their maintenance in the new account. Jaivardhan who had come with some blank cheques credited ₹3 lakh from Cosmos bank account to his personal HDFC account and cheated the society on Nov 11, 2023, the FIR states.

Police Inspector Sanjay Patange is investigating the case in this regard.