Four nabbed for cheating 37 people of Rs 6.3 crore

The arrested accused had told the victims that they were carrying out a redevelopment project at Powai, Ghatkopar, Chembur and Mulund areas.

The Mumbai police arrested four people from Shirdi on Saturday night for cheating 37 people of Rs 6.3 crore on the pretext of providing them flats at cheaper rates. Most of the transactions had taken place between years 2009 and 2016.

According to the police, the arrested accused have been identified as Devdas Rao, 71, Tajaswi Rao, 27, Nandita Rao, 31 and Bhavna Menon, 30. Another person is still wanted in the case.

Park Site police sources said in March they received a number of complaints from people who had invested money for the apartments but did not get anything in return. Following this, on March 6, the cops registered an FIR in the case under sections 420, 406 and 34 of IPC and relevant sections of the Maharashtra Ownership Flats Act.

Speaking on condition of anonymity, a police officer said, "The arrested accused had told the victims that they were carrying out a redevelopment project at Powai, Ghatkopar, Chembur and Mulund areas. They had even promised the victims flats at rates much lower than the market value."

"People got to know about the project through advertisements put up by the accused in newspapers and approached them. They have been cheated of more than Rs 6.30 crore," he added.

One of the victims in the case, Swati Thorat, who stays in Thane, had given Rs 13 lakh to the accused for a flat. Police sources said victims have lost anything between Rs 4 lakh and Rs 80 lakh. However, following their arrest on Saturday, the accused were produced before a court, where they were remanded to police custody till October 17.

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