A shocking case of fraud amounting to approximately ₹3 crore has come to light in the Bandra area, where a businessman and two others were lured by promises of fourfold returns. The Bandra Kurla Complex (BKC) Police have registered a case of fraud against five directors of the involved company: Sachin Sandhir, Nimish Gupta, Shweta Kataria, Nitin Thakur, and Mohit Juneja. Preliminary investigations suggest that several individuals invested large sums in the company, hinting that the total fraud amount could be much higher. Meanwhile, all five accused have gone absconding, prompting the police to launch a special operation to arrest them.
Animesh Sanjay Sharma, a businessman residing in Bandra with his family, owns a petrochemical transport company where he has been a director for 15 years. In October 2023, a friend introduced him to a private company based in Delhi, claiming it was gearing up for an Initial Public Offering (IPO) on the U.S. stock market and required financial investments from potential investors. The company specialized in creating personality reports using DNA science, aimed at helping students in schools and colleges understand their aptitude and choose suitable education and career paths.
The company assured Sharma of fourfold annual returns on investments. Sharma contacted one of the directors, Sachin Sandhir, who elaborated on the investment plans and claimed that several reputed individuals and industry leaders had already invested in the company. To build trust, Sandhir showcased a list of investors on the company's website, complete with names and photos.
After verifying the website and attending meetings with the company's directors, Sharma decided to invest ₹2 crore. Following this, he received a post-dated cheque of ₹8 crore from the company. Additionally, his mother, Ramola Sharma, also invested ₹95.34 lakh in the company's shares. She, too, received a post-dated cheque of ₹3.80 crore. Both transactions were backed by signed agreements.
In February 2024, the company abruptly stopped paying salaries to its employees. Around the same time, directors Nitin Thakur and Nimish Gupta resigned from their posts. Suspicious of these developments, Sharma tried contacting Sachin Sandhir, only to find his phone switched off. Alarmed, Sharma deposited the post-dated cheques in the bank, but both bounced, confirming their suspicions of foul play.
The fraudulent scheme resulted in the company duping Sharma, his mother Ramola Sharma, and a friend, Mahesh Khairnar, of a total of ₹3.07 crore.
Following a complaint by Sharma, the BKC Police registered a case against the five directors under charges of fraud and provisions of the Maharashtra Protection of Interest of Depositors Act. Initial investigations revealed that several others had invested crores in the company, and the total fraud amount is expected to rise significantly.
The police are continuing their investigation and have launched a manhunt to trace the absconding directors.