A man has been booked in Bhiwandi in <a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/thane-man-cheated-of-rs-62-lakh-in-share-market-investment-scam-23619985" target="_blank" rel="none noopener">Thane district</a> for allegedly misusing identity documents of a senior citizen and his family to operate five firms to evade GST payments, a police official said on Monday, reported news agency PTI.
The accused had approached the 67-year-old victim with the promise of getting him a business loan, the Bhiwandi city police station official said.
"Under the pretext of processing the loan application, the 55-year-old accused allegedly obtained the personal documents of the complainant, his wife and children. The accused then used these documents to clandestinely start five separate firms in their names between February 2012 and December 2022," the official said, reported PTI.
<a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/dry-opium-worth-rs-38-lakh-seized-in-thane-district-one-held-23619735" target="_blank" rel="none noopener">The accused</a> conducted business transactions through these firms and failed to pay the required GST, and a probe has found he has cheated others with the same modus operandi, the official added, reported PTI.
A case was registered under Indian Penal Code for cheating, forgery and other offences, though no arrest has been made so far, the official informed.
<h2>Thane man duped of Rs 62 lakh in share investment fraud</h2>
In another case, a 36-year-old man from Maharashtra's Thane district has been allegedly cheated of Rs 62 lakh by an acquaintance who lured him to invest in the share market, promising him high returns, police said on Monday, reported PTI.
Based on a <a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/maharashtra-two-booked-for-cheating-thane-hospital-owner-of-rs-10-lakh-23619844" target="_blank" rel="none noopener">complaint</a>, the Kapurbawdi police on Saturday registered a first information report (FIR) against one Sachin Bhagwat (47), under sections 318(4) (cheating) and 316(2) (criminal breach of trust) of the Bharatiya Nyaya Sanhita (BNS), an official said, reported PTI.
The complainant, an employee of an electric company, has alleged that Bhagwat befriended him, gradually gained his trust and discussed investment opportunities in the stock market, he said, reported PTI.
According to the FIR, the accused allegedly lured the complainant into investing in shares with an assurance of high and quick returns, making him shell out Rs 75 lakh over a period of two years, the official said.
The complainant claimed that when he later sought returns on <a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/thane-two-booked-for-duping-investors-of-rs-1-78-cr-in-bogus-share-scheme-23618573" target="_blank" rel="none noopener">the investment</a> and asked for the principal amount back, Bhagwat allegedly gave evasive replies and failed to provide the promised profits, managing to return only Rs 13 lakh, reported PTI.
The remaining sum of Rs 62 lakh has not been repaid so far, he said, adding that a probe is underway and no arrest has been made in the case so far.
(With inputs from PTI)

A man has been booked in Bhiwandi in Thane district for allegedly misusing identity documents of a senior citizen and his family to operate five firms to evade

Thane man accused of using senior citizen’s documents to run firms, evade GST

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The accused conducted business transactions through these firms and failed to pay the required GST, and a probe has found he has cheated others with the same modus operandi

Thane man accused of using senior citizen’s documents to run firms, evade GST

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Home / Mumbai / Mumbai Crime News / Article / Thane man accused of using senior citizen’s documents to run firms, evade GST

Thane man accused of using senior citizen’s documents to run firms, evade GST

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