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Mumbai Man Loses Rs 1.6 Crore in Alleged Pharmaceutical Venture Scam
pharma-industry business earnings

Mumbai Man Loses Rs 1.6 Crore in Alleged Pharmaceutical Venture Scam

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by Newsdesk
Updated

AI-Generated Summary

A 74-year-old Mumbai man allegedly lost Rs 1.6 crore after investing in a pharmaceutical venture proposed by businessman Dhanesh Gundecha. Despite an agreement for a 25% stake, the project never materialized, and the funds were not returned. A case for cheating and breach of trust has been filed against Gundecha.

In a nutshell

This incident highlights the financial risks associated with business partnerships and the importance of due diligence, even for experienced individuals in specialized industries like pharmaceuticals. It serves as a cautionary tale about investment scams.

Source: Devdiscourse

Newsdesk profile image
by Newsdesk
Updated

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