Mumbai Fraud: 34-Year-Old Businessman Cheated Of ₹25 Lakh In Fake Tech Firm Investment; Colaba Police Files FIR Against 5 Accused

Mumbai: The Colaba Police have registered a case against five individuals for allegedly cheating a 34-year-old businessman of Rs 25 lakh under the pretext of investment in a tech company. The accused promised monthly profit shares and submitted fake documents to gain the complainant’s trust before misappropriating the funds.

Victim Promised Monthly Profit Shares in IT Company

The complainant, Vikas Rajpal Singh Proach, a resident of New Navy Nagar, Cuffe Parade, was lured into investing Rs 25 lakh in a company purportedly dealing in IT services. The accused — identified as Munkendra Markadey, Pushpendra Markadey, Dhanush, Teja, and Vikas Jain — assured him of attractive returns in the form of monthly profit shares.

Fraudsters Used Fake Audit Reports & Documents

According to the FIR, the accused allegedly conspired and created fraudulent financial documents including fake balance sheets, rent agreements for a property in Bengaluru, product sales and profit statements, and an audit report. These documents were emailed to the complainant to convince him of the legitimacy of the company’s operations.

Accused Refused Refund, Issued Threats to Victim

However, after the investment was made, the accused failed to deliver any profit. They claimed the company was incurring losses and refused to return the Rs 25 lakh investment despite repeated requests. Further, the complainant was allegedly threatened with dire consequences if he approached the police.

FIR Registered at Colaba Police Station

The incident took place at the Bank near Telephone Bhavan and Strand Cinema in Colaba. A case has been registered under relevant sections for cheating, criminal breach of trust, and criminal intimidation. Police are currently investigating the accused, who remain at large.