Mumbai Fraud: Malad-Based Company Dupes Investor With Fake Free Healthcare & Double Return Claims; 11 Accused Booked

Mumbai: In a shocking case of financial fraud, a Malad-based company named Secure Agro Healthcare has allegedly cheated multiple people by luring them with promises of free surgeries for all illnesses and doubling their investment amount.

FIR Registered Under IPC and MPID Act Against 11 Individuals

Acting on a complaint filed by a senior citizen, Malad Police have registered an FIR against 11 accused under Sections 120(B), 34, 406, 420, 467, 471 of IPC Act and Sections 3,4 of MPID act and launched an investigation.

The FIR names Dinsha Kavasjee Ghadiyali, Ghanshyam Bansidhar Agarwal, Satish Suresh Jadhav, Kishor Gordhan Vaviya, Yogesh Vasant Lokhande, Hiren Raghavjee Bhikdia, Naina Kiran Sharma, Saed Nadeem Abbas, Haribhai Ratna Choudhari, and Kalpana Satish Jadhav among others, who allegedly duped the complainant of ₹5 lakh.

According to Malad Police, the complainant, Ashok Zagde (65), knew some of the accused personally. They convinced him that their company provided free surgeries for all medical conditions through insurance coverage and promised to double the invested amount. They claimed that investments above ₹5 lakh would yield quicker returns, while smaller investments would double within seven years.

Fake IRDA License Used to Win Investor Trust; ₹2 Crore Disbursement Claim Made

To make their claims seem credible, the accused allegedly showed Zagde a fake license purportedly issued by the Insurance Regulatory and Development Authority (IRDA), and claimed that they had already disbursed ₹2 crore to other investors.

Trusting their assurances, Zagde invested ₹5 lakh in 2019. However, when he failed to receive any returns, he asked for his money back. The accused initially gave excuses and later stopped answering his calls.

Police Probe Underway; Accused Likely to Face Interrogation Soon

Realizing he had been cheated, Zagde filed a complaint with Malad Police. The police are currently preparing to interrogate the accused as part of their ongoing investigation into the scam.