Navi Mumbai Businessman Defrauded of Rs 1.25 Crore in Loan Scam

Thane, Jun 30 (PTI) - A Navi Mumbai businessman was allegedly defrauded of Rs 1.25 crore by four individuals who promised to secure loans for him, according to a police statement on Monday. Based on a complaint from the 78-year-old resident of Airoli, authorities registered a case on Saturday under sections 316(5) for criminal breach of trust, 318(3) for cheating, as well as other relevant provisions under the Bharatiya Nyaya Sanhita, an official shared. The accused reportedly approached the victim, who owns a machine tools company situated in the Rabale MIDC area, between December 2023 and March 2025, offering to arrange loans of Rs 100 crore and Rs 200 crore. During their interactions, the accused allegedly presented fabricated demand drafts and cheques from three separate banks, employing forged signatures and counterfeit bank seals to win the complainant's trust and extract money under the pretense of loan processing and administrative fees, the official disclosed. The victim is said to have transferred Rs 1.25 crore into several bank accounts associated with the accused, yet no loan ever came to fruition. Authorities have registered a case against the accused identified as Dhanesh Deshmukh (44), Pramila Lad (65), Prashant alias Raju Pillai, and Pushpa Gupte, though no arrests have been made as of yet.

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