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Chartered accountant cheats client of Rs 65 lakh

A chartered accountant from Bandra (West) was arrested on Friday for allegedly duping his client of Rs 65 lakh.

mumbai Updated: Oct 31, 2010 01:31 IST
HT Correspondent
HT Correspondent
Hindustan Times

A chartered accountant from Bandra (West) was arrested on Friday for allegedly duping his client of Rs 65 lakh. The accused, Gopal Naik (56), had allegedly taken the amount from the victim in 2005 with a promise to invest it. However, when the family asked for the money, he did not give it back.

Police sub inspector N Gaikwad, from the Bandra police station said: “A first information report under section 420 (cheating) of IPC had been registered against Naik in 2009 by Jude Soares from Bandra. After investigating the case, we arrested him on Friday.” He added, “Soares, who has been employed in Canada for the past few years, was planning to move there permanently with the rest of his family comprising of his wife Ann and two children.”

The police said because the family was planning to sell their property in the city, their accountant Naik convinced Soares to give him Rs 65 lakh to invest in profitable ventures. In 2005, Soares gave him the demanded amount and Naik paid them interest for the first year.

“However, for two subsequent years he kept delaying the payment date or paid them with cheques that would bounce due to insufficient funds. When Soares realised that he had been cheated, he approached the Bandra police,” added Gaikwad.

When the police initially called Naik for questioning, he assured them that he would sell of his property and pay the victim. However when that did not happen, the police arrested him.

Ann, the wife of the complainant said, “Naik had been doing our taxes since 1993. From what we have heard, Naik has duped more people including celebrities. ”

When asked if Naik had duped more people, Gaikwad said, “ So far this is the only case that has come to light. We have his custody till November 2 and are questioning him about where he deposited the money. As of now he claims to have been duped himself by a friend.

First Published: Oct 31, 2010 01:30 IST