Juhu Businessman Defrauded of ₹1.6 Crore in Elaborate Pharma Partnership Scam
AI-Generated Summary
A 74-year-old Juhu businessman was allegedly defrauded of ₹1.6 crore by a Nagpur-based associate, Dhanesh Gundecha, under the pretext of a pharmaceutical capsule production partnership. The victim invested the funds for machinery, but Gundecha reportedly misappropriated the money for personal use, failing to deliver on the venture. Juhu Police have registered a case of cheating and criminal breach of trust, with an investigation underway to determine if there are other victims.
In a nutshell
This case underscores the sophisticated nature of financial fraud, even within professional circles, and serves as a critical reminder for businesses and individuals to conduct thorough due diligence before entering into new partnerships or making significant investments. It also highlights the vulnerability of senior citizens to elaborate schemes.
Source: Lokmat Times
