Thane. A woman has been arrested in Thane district for allegedly cheating 19 people of more than ₹1.36 crore through a scheme involving real estate investments and rental agreements.
The accused, identified as Chandni Abhay Verma, allegedly collected large sums from people by promising to invest their money in ongoing construction projects in Naigaon and Palghar. She also allegedly assured them of rented accommodation, payment of monthly rent and the return of their entire deposits after the agreements expired.
According to police, Verma allegedly presented the arrangement as a combination of property investment and rental accommodation. She reportedly approached people seeking large lump-sum deposits and claimed that the money would be invested in construction projects in Naigaon and Palghar. In return, she allegedly promised to arrange rental accommodation for the investors and personally pay their monthly rent throughout the agreement period.
The accused allegedly further assured the investors that their full deposit would be returned once the rental agreement expired. Police said she initially paid the monthly rent for the first few months, which helped her gain the confidence of the victims. Several people subsequently handed over substantial amounts of money under the arrangement.
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According to the police, the payments eventually stopped. Verma allegedly ceased paying the monthly rent and later stopped responding to the victims. She is accused of fleeing with the money deposited by them. The failure to receive rent and the loss of contact with the accused reportedly prompted the victims to realise that they had allegedly been deceived.
The case came to light after Anand Mataprasad Gupta, who runs a stationery shop, approached the police. He alleged that he had lost ₹3.51 lakh under the arrangement. Based on his complaint, Navghar police registered a case against Verma on August 29. She was booked under relevant provisions of the Bharatiya Nyaya Sanhita for alleged cheating, criminal breach of trust and other offences.
As the investigation progressed, police found that the alleged fraud was not limited to Gupta. Investigators identified several other people who had entered into similar investment or rental arrangements with Verma. According to police, the investigation has so far established that 19 individuals were allegedly cheated of a total of ₹1,36,81,000.
Police said Verma was arrested on September 4 after allegedly remaining on the run following registration of the case. Her questioning, along with examination of documents and financial transactions, has helped investigators determine the larger scale of the alleged fraud.
The alleged victims included people looking for rental accommodation, individuals interested in property investment and those willing to enter into arrangements involving property deposits. Police suspect that Verma used these different requirements to persuade people to hand over money under a common arrangement.
Investigators are now examining the transactions involving the 19 alleged victims, the bank accounts linked to the accused and the claims she made about construction projects in Naigaon and Palghar. Police are trying to establish whether the money collected from the victims was actually invested in any property or construction project or whether it was diverted for other purposes.
The investigation is also examining Verma’s contacts and other financial transactions to determine whether additional people were involved in the alleged operation. Police are checking documents, payment records and details of the agreements made with the victims.
Investigators are also assessing the complete flow of the money allegedly collected from the victims. The authorities are expected to examine whether any assets were purchased or payments were made using the funds and whether additional victims may have been affected.
The investigation remains underway. Police are continuing to question the accused and match the financial records and documents provided by the 19 alleged victims. Further details about the alleged scheme, the use of the money and the full extent of the property-related fraud are expected to emerge as the investigation progresses.
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