The Kasturba police have booked a man from Kandivali East for allegedly cheating a widow and her son from Borivali East out of Rs45 lakh. The police registered the case on February 22.
According to the FIR, the complainant is Rujuta Phansekar, 73, who lost her husband in 2019, and currently lives with her 32-year-old son, Advait. After her husband’s death, she invested Rs47 lakh in the State Bank of India’s mutual fund. A few years ago, Advait met the accused Shahu Parekh at a gym in Kandivali East. Parekh, who also resides in Kandivali East, became friends with Advait, and they began visiting each other’s homes.
In April 2022, Shahu gained Advait’s trust and told him that they would face financial losses in the mutual fund and advised that they withdraw the funds and invest in ICICI Bank’s mutual fund, where they would supposedly get 11% interest. He assured them they would make a profit and helped them with the investment process.
Advait informed his mother about Parekh’s advice. Rujuta spoke to Parekh directly, and he reiterated that the share market was down and that they should immediately withdraw the money. She trusted him and withdrew Rs45 lakh from the fund and transferred it to Parekh’s accounts in Union Bank of India and ICICI Bank. Later, Parekh handed her a fake ICICI Bank mutual fund form. Growing suspicious, Rujuta inquired at the bank and discovered that the form was fake and that Parekh had not invested the money. Instead, he had used it for himself.
The case was registered on February 22 under sections 316(2) (criminal breach of trust) and 318(4) (cheating) of the Bharatiya Nyaya Sanhita.
