Representative image of fraud.
Credit: iStock Photo
Thane: A 58-year-old architect from Maharashtra's Thane city was allegedly cheated of more than Rs 8 crore by a Dubai-based businessman, police said on Monday.
Based on a complaint, the Naupada police on Saturday registered a case against the alleged accused, Harish Chainani, and others involved in the crime, an official from Naupada police said.
According to the complaint, the accused, who imported luxury watches, allegedly lured the victim to join his venture as he wanted to expand it to India and asked him to invest Rs 4 crore, he said.
In 2022-23, the victim allegedly gave the Dubai-based businessman 13 watches worth Rs 4.85 crore and a sum of Rs 4 crore for the business, the official said.
Later, when the victim sought returns on his investment and proceeds from the sale of the watches, the accused started giving him evasive replies and stopped taking his calls, he said.