Mumbai: The Bandra-Kurla Complex (BKC) police have booked four history-sheeters for allegedly cheating a woman, whom they allegedly trapped with the lure of investment and subsequently secured loans totalling up to Rs 1.17 crore in her name.

The complainant, Vijya Ankutkar, 41, resides in Ambernath East and works for a private company. She said that she met Rahul Shah, 40 and Akash Musale, 26, who are among the accused, through a relative at the Sofitel hotel in the BKC in September 2023. Shah and Musale claimed to be car dealers, said Ankutkar, adding that they offered her to invest in their business by promising good returns.

She alleged that on this pretext, the accused took her personal documents and used them to secure vehicle loans of Rs 1.17 crore from different banks. They transferred the whopping amount into the personal accounts of other two accused – Teresa Stephen, 40, and Nihar Chaudhary, 36 – claimed Ankutkar.

She further alleged that between September 2023 and January 2024, the accused used the loan for personal purposes rather than for business. Ankutkar said that she realised the fraud when she began receiving calls from banks regarding unpaid EMIs. She said that when she contacted Shah and Musale, they gave evasive answers and eventually went incommunicado.

Investigating officer Rahul Chandanshive said that the accused had purchased 11 high-end cars, including models like Grand Vitara, Thar and Jimny, with the loans. Shah and Musale are already in Thane jail in another case, said the cop, adding that the quartet is suspected of defrauding others using similar schemes.