The RCF Police in Chembur have registered a case against a Jaipur-based man and his associate, a woman from Nagpur, for allegedly cheating a city-based businessman of more than Rs 1.06 crore under the guise of offering lucrative returns from an import-export business involving cashew nuts and teakwood.
The police said the complainant, 52, runs a construction material supply and transport firm based in Chembur. In his statement, he said that the two accused — identified as Maheshkumar Daulatram Motiani, 38, from Jaipur and his business partner and alleged girlfriend, Jyotsna Yuvraj Choudhari, 45, from Nagpur — induced him to invest in their companies, promising returns of up to 30 per cent within weeks.
He was introduced to the duo in 2022 by his neighbour, also a businessman, who said he had personally invested in their import business and received handsome profits. “The accused told the victim that they imported cashew and teakwood from Ghana in West Africa and assured him that they had a steady client base in India. The victim was impressed, invested small amounts initially, and received timely payments in the beginning. By mid-2024, he was persuaded to invest a larger sum,” said a police official.
Between September 10 and October 7, the victim said, he transferred four instalments of Rs 50 lakh, Rs 6.44 lakh, Rs 30 lakh and Rs 20 lakh, totalling Rs 1.06 crore, to a Nagpur-based bank account. The accused reportedly guaranteed that he would earn profits within 20 to 25 days but it never came through.
The victim was sent cheques which kept bouncing, and by June this year he realised he had been duped. The accused duo have similar cases of duping investors registered against them in Ulhasnagar, Nagpur and Madhya Pradesh, confirmed senior police inspector Dattatraya Patil of RCF police station.
