In a major breakthrough, the Economic Offences Wing (EOW) of the Mumbai Police arrested Yogeshkumar Chalthanwala (53) and Sunil Bende, also known as Patel (55), both residents of Surat, Gujarat, in connection with a Rs12 crore cheating case. The arrests were made on Friday after a complaint was filed by Shreyash More (34), the director of M/s Tam India Pvt Ltd., a company engaged in the import and export of base oil used in industrial and automobile sectors.
The victim, Shreyash More, alleged that the accused fraudulently siphoned off Rs12 crore from his company, Tam India Pvt Ltd. According to the complaint, the accused individuals were involved in misappropriating funds and carrying out illegal activities under the guise of legitimate business transactions.
The company, which deals in the import and export of base oil, had entered into various financial dealings with the accused, who promised profitable ventures in exchange for large sums of money. However, the accused failed to deliver on their promises and manipulated business transactions, leading to financial loss for the company.
The EOW launched a thorough investigation based on the complaint and traced the fraudsters to Surat. After collecting substantial evidence, the police apprehended Chalthanwala and Bende, both of whom have been charged with fraud, cheating, and misappropriation of funds. They were arrested on the grounds of their involvement in deceptive practices that led to a massive financial loss for the company.
During the investigation, the EOW discovered that the accused had used falsified documents and misleading agreements to gain the trust of the victim. They then used this trust to misappropriate the funds, making it difficult for Tam India Pvt Ltd. to recover the money.