Mumbai: A case of fraud amounting to Rs 1.64 crore has surfaced in Mumbai’s Dadar area, where a chartered accountant was allegedly duped on the pretext of securing an accounting contract with a large company.

Based on a complaint filed by Bharat Dhanji Gala (59), the Bhoiwada police have registered a case against Mohammad Akram Abdul Sattar, a resident of Jodhpur, Rajasthan. The police have initiated an investigation into the matter.

According to Bhoiwada police, the scam began in January 2024 when Mohammad Akram Abdul Sattar visited Bharat Gala’s office in Dadar East. Claiming to be a secretary of a Jodhpur-based company, Akram alleged that he had strong business connections with prominent industrialists Praful Patel and Ravi Jain. He assured Gala that he could help him secure a high-value accounting project.

Akram further claimed that his associate, Ashish Agarwal, a well-known businessman from Jaipur, was in the process of establishing new companies due to a family property division dispute. He convinced Gala that these firms would require registration, GST filing, and taxation services, making it a lucrative opportunity for him.

Trusting Akram’s words, Gala transferred Rs 1,64,56,944 to the bank accounts provided by the accused. The payments were made through online banking, Google Pay, and other digital platforms. To arrange for the funds, Gala took bank loans, used credit cards, and even borrowed money from friends and relatives.

When Gala demanded his money back, Akram initially assured him that repayments would begin on September 23, 2024. He further promised to issue six cheques of Rs 20 lakh each and an additional Rs 45 lakh by September 30, 2024. However, neither the cheques nor the promised amount materialized.

Realizing that he had been cheated, Gala filed an FIR against Akram. The Bhoiwada police have registered a case and are actively investigating the fraud.