In a major property fraud case, police arrested Amit Arjan Mirchandani for allegedly cheating a family out of Rs 1.48 crore by promoting a fictitious real estate project. He was presented before a court and remanded to one-day police custody for further questioning and recovery of evidence.
According to investigators, Mirchandani lured the victim — a resident of Sector-7 — by portraying himself as an established property dealer. He claimed to have launched a premium residential development in Mumbai under the name “Mirchandani Triton.”
To build trust, he allegedly invited the complainant’s family to his residence, where he showcased fabricated brochures and promotional material for the supposed high-end project. He promised extraordinary returns ranging from 40 to 50 times the initial investment.
Believing the proposal to be genuine, the complainant and his family invested Rs 1,48,50,000 in multiple instalments between September and December 2024.
Police are continuing their investigation to verify the extent of the alleged fraud and to identify whether more investors were similarly misled.
