A Mumbai businessman was allegedly duped of Rs 3.25 crore by an interstate gang promising lucrative investment returns, highlighting the risks of investment fraud.
Key Points
- A Mumbai businessman was allegedly defrauded of Rs 3.25 crore by an interstate gang.
- The gang promised high investment returns in a company named Arkship Group.
- The businessman was later assaulted and threatened at gunpoint by the accused.
- An FIR has been registered against the nine accused, and the case is now with the Mumbai Crime Branch.
- Preliminary findings suggest the accused are part of a larger interstate network involved in financial crimes.
A nine-member inter-state gang has allegedly duped a Mumbai-based businessman of Rs 3.25 crore with promises of high investment returns and also assaulted and threatened him, police said.
The nine accused, two of them women, are residents of Mumbai, Odisha, Bihar and Jharkhand, an official from Vile Parle police station said on Monday.
The Lure Of High Investment Returns
The complainant, who runs a private enterprise, came into contact in July 2025 with four of the accused, who introduced themselves as brokers. The accused convinced him to invest in a company named Arkship Group, promising lucrative returns, according to the official.
Falling prey to their claims, the businessman transferred Rs 1 crore online. However, he later found the amount had been diverted to the account of an NGO named 'Manav Dharmayog'.
Assault And Extortion
When the victim questioned the accused, he was called for a meeting at a hotel near the Western Express Highway in Vile Parle along with his company's general manager. At the hotel, the gang members allegedly assaulted the duo and threatened them at gunpoint, he said.
The gang then demanded Rs 3 crore as ransom, threatening to kill the businessman if he failed to pay. Fearing for his life, he transferred approximately Rs 2.25 crore online to bank accounts provided by the accused, the official said.
Police Investigation Underway
After receiving the money, the accused released him, but warned him of dire consequences if he approached the police. However, on the advice of his family members and friends, the victim later approached the police and lodged a complaint.
After verifying the complaint, police recently registered an FIR against the nine accused on various charges, including cheating, criminal breach of trust, extortion, causing grievous hurt, and issuing death threats.
The case has been handed over to the Mumbai Crime Branch for further investigation. Preliminary findings suggest the accused are part of a larger interstate network, the official added.
