In a shocking case of financial fraud, Suhas Mestri, a 40-year-old man from Colaba, Mumbai, was duped of Rs2.4 crore by a conman posing as a chartered accountant. The accused, Rahul Shah, reportedly promised high returns from a luxury car rental business targeting diplomats and VIP guests staying in top Mumbai hotels.
According to the Hindustan Times, Shah was introduced to Mestri in 2023 through a mutual acquaintance. Gaining his trust, Shah convinced Mestri to invest in 11 cars, assuring him that the vehicles would be rented to elite clientele through his supposed hotel contacts.
Shah further arranged for fake bank officials to visit Mestri’s home to complete the documentation. Relying on Shah’s assurances, Mestri took out multiple loans to fund the car purchases, including a personal loan for down payments. Shah also promised to manage the rental operations and take care of monthly EMI payments.
However, between August 2023 and February 2024, Shah stopped responding, and the EMIs remained unpaid. Realizing he had been conned, Mestri approached the Kalachowki police. On Monday, the police arrested Shah, who now faces charges under multiple sections related to fraud and impersonation.
This incident highlights the growing threat of scams involving impersonation and false investment promises.
