Mumbai: Businessman Duped of Rs 2.79 Crore in Goregaon with Promise of 24% Returns; Travel Firm Owner Booked

A businessman was allegedly duped of Rs 2.79 crore by a known associate who promised a 24% return on investment in a tours and travels business. The incident came to light in the Goregaon area, and Dindoshi Police have registered a case of cheating against the accused, Fenil Mehta.

According to police, the accused lured the complainant with promises of high returns from his travel company. The victim, Nishant Harlalka, a businessman residing in the Prabhadevi area of Dadar and engaged in a family-owned perfume business, met Fenil Mehta in July 2021.

During their acquaintance, Fenil claimed to be working as a general physician at KEM Hospital in Sion. He also requested to rent Nishant’s flat in Matunga, which was eventually leased out to him. Fenil stayed there with his wife and two daughters. Over time, the two developed a close relationship, and Nishant even sought medical advice from him.

Fenil later introduced himself as the owner of "J.K. Travels", a company based in Dadar. He claimed to have started the business in 1999 and owned several luxury vehicles, including five Mercedes Benz Volvos and ten Innova Crystas, which he said were leased to major firms like L&T, Siemens, and Cadbury, generating substantial profits.

He then persuaded Nishant to invest in his business, assuring a 24% annual return. Gaining the businessman’s trust, Fenil received an investment of Rs 3.93 crore. Though he initially returned Rs 76.55 lakh, the remaining principal amount of Rs 2.79 crore, along with the promised interest, was not paid.

Repeated follow-ups yielded no response, and Fenil eventually became unreachable. Nishant visited the Matunga flat, where the building security informed him that Fenil had vacated the premises with his family.

Realising he had been defrauded, Nishant approached the Dindoshi Police. After initial verification, a case was registered against Fenil Mehta for cheating and criminal breach of trust involving Rs 2.79 crore under the pretext of business investment. Police are currently investigating if there are other victims and have stated that Fenil will soon be summoned for questioning.