A property developer from Mumbra in Thane district was allegedly cheated of Rs 4.95 crore after two men entrusted with selling flats in his under-construction project allegedly entered into unauthorised sale agreements and diverted the proceeds, police said.
Mumbra police have registered a case against Nadim Sheikh and Akhtar Hussein Baig following a complaint filed by the developer. According to the police, the accused allegedly secured the developer’s confidence by agreeing to facilitate flat sales in exchange for a nominal brokerage fee.
52 Flats Allegedly Sold Without Developer’s Consent
The developer alleged that Sheikh and Baig took advantage of his absence between April 2024 and August 2026. During this period, they allegedly entered into sale agreements with prospective buyers without obtaining his knowledge or approval.
Police said the accused allegedly sold 52 flats from the under-construction project and retained the money received from the transactions. The developer has claimed that the alleged unauthorised deals resulted in a financial loss of Rs 4.95 crore.
Following the complaint, Mumbra police registered an FIR under Section 316(2) of the Bharatiya Nyaya Sanhita (BNS), which relates to criminal breach of trust, along with other applicable provisions.
Police Examine Agreements And Money Trail
Investigators are examining the agreements associated with the 52 flats and verifying the transactions carried out by the accused. Police are also tracing the money received from the alleged sales to determine how the proceeds were handled or diverted.
The investigation will also establish the circumstances under which the agreements were executed and whether the prospective buyers were aware that the transactions had allegedly taken place without the developer’s consent.
Police are examining project documents, sale agreements and financial records as part of the probe. Further action will depend on evidence gathered during the investigation.
Doctor Allegedly Loses Rs 60,000 In Online Delivery Scam
In a separate case, police registered a complaint after a 46-year-old doctor from Mumbra was allegedly cheated of Rs 60,000 in an online delivery-related fraud.
The complainant, Abdul Vahid Jalaluddin Siddiqui, had ordered items online but reportedly did not receive the delivery. He later searched online for customer care assistance but could not find a legitimate contact number. The subsequent events allegedly resulted in the financial loss, with police investigating the cyber fraud.
Source: Mid-day
