Mumbai: Lookout notice against UK couple for cheating people, aide arrested

The Mumbai Police has initiated a lookout notice against a couple from the United Kingdom (UK) for allegedly duping people of crores through six websites by luring them into investing in rare coins and promising them high returns citing that the value of these coins would rise.

The Mumbai Police has initiated a lookout notice against a couple from the United Kingdom (UK) for allegedly duping people of crores through six websites by luring them into investing in rare coins and promising them high returns citing that the value of these coins would rise. Khar police arrested the couple’s Mumbai-based associate identified as Amir Yakub Shaikh, 30, on Wednesday.

Police headquarters at Colaba in Mumbai. (HT FILE)

The case came to notice after a woman approached Khar police after she allegedly lost ₹72 lakh to the couple’s ponzi scheme. Abhishek Trimukhe, deputy commissioner of police (zone 9), said the accused, identified as Ahmed Khan, had opened a company named EA Rarcoa Collectibles Pvt Ltd in Mumbai and Bengaluru, and launched six websites to lure people into investing in rare coins.

“In the beginning, Khan gave returns to his investors but later he duped them,” said Trimukhe. When the investors demanded answers, Khan allegedly asked Shaikh to buy coins from Chor Bazaar in Mumbai and gave it to the clients claiming that he had given them rare and precious coins. He had, however, warned them not to open the box.

After the woman lodged a complaint, Khar police tracked Khan and his wife but they fled to the UK. The police then arrested Shaikh from Mumbai Central on Wednesday. While investigating the case, the police found out that Shaikh had collected ₹1 crore in his company account called Iliana Marketing.

“We have issued lookout notices for Khan and his wife and are investigating the came to find out how many more people the trio cheated,” said Trimukhe.