Businessman Cheats Relative of Rs 2.7 Crore in Investment Scam |

A 39-year-old businessman from Worli has been accused of cheating his distant relative investor of Rs 2.7 crore by promising a 36% annual return on investment. The accused had mortgaged his house to a bank and sought financial assistance from the investor to save it. They signed an agreement where the investor provided Rs 1 crore between July 2018 and July 2019. However, when the investor requested the amount in 2023, the accused stopped responding to calls and even instructed the bank to stop payment on the cheque. The investor realized he was duped and filed a complaint with the Malad police after the accused denied taking any money.