Mumbai businessman loses Rs 7.5 crore to fraudsters including his accountant; 2 held

The Mumbai Police has arrested two persons who were part of a racket that allegedly siphoned off Rs 7.5 crore from the bank accounts of a city-based businessman over the last four years

Mumbai businessman loses Rs 7.5 crore to fraudsters including his accountant; two held

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The Mumbai Police has arrested two persons who were part of a racket that allegedly siphoned off Rs 7.5 crore from the bank accounts of a city-based businessman over the last four years, an official said on Saturday.

The businessman, who is in the transport and aviation businesses, lodged an FIR against 11 people including his trusted accountant in April.

According to the complainant, the accused included his two cousins and as many friends along with others.

In the last four years, all the 11 accused, including five women, transferred Rs 7.5 crore from the bank accounts of the companies run by the complainant as well as his personal account, to their accounts, the official said.

The incident came to light when the businessman was informed about some suspicious transactions in his accounts by his bank.

The businessman had initially approached the Economic Offence Wing (EOW) of the Mumbai Police but the case was transferred to Sahar police station.

"Police nabbed Swapnil Chavan and Girish Agrawal on Friday. Chavan was earlier held on charges of robbery and extortion," the official said.

He said the police had made several calls to 11 persons named in the FIR to record their statements but they evaded the police.

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"Police have identified the masterminds behind this fraud as one Vimal Jagdish Agrawal and his wife Nupur," the official said.

A case was registered under sections 477-A (Falsification of Accounts), 408, 409 (Criminal breach of trust) 420 (cheating), 120-b (conspiracy), and 34 (common intention). Further investigation is underway, the official added.

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