A real estate developer,Jagdish Hiralal Unecha was arrested for duping a 66-year-old architect of Rs1.91 crore promising him attractive returns on his investment, which never came through.
Police said the alleged cheating occurred between 2015 and January this year. A Deccan Gymkhana police team, including senior inspector Muralidhar Karpe and sub-inspector Babasaheb Zarekar, nabbed the realtor, Jagdish Hiralal Unecha (58), from Bhosalenagar off Ganeshkhind Road. The wife and son of the realtor have also been booked.
“Unecha is into the business of plot schemes as well as construction,” said Karpe. His office is located in the Deccan area.
Karpe said, “In 2015, Unecha had floated a financial scheme promising handsome returns to people investing in it. As of now, we have received only one complaint but the possibility of some more investors coming forward to lodge their complaints with us cannot be ruled out.”
He said, “We conducted a search at Unecha’s office and found many receipts stating that he had accepted money from people. We have invoked provisions of the Maharashtra Protection of Interest of Depositors (MPID) Act, along with cheating and criminal breach of trust in the case.”
Sub-inspector Zarekar said “The complainant is a resident of the Sinhagad Road area. After going through the scheme of Unecha promising monthly benefits to investors, he invested Rs1 crore in it. The architect received monthly benefits only till September 2016. The victim’s investment amount (Rs1 crore) was supposed to mature in January 2021 but Unecha did not return it also. The architect did not receive the interest amount of Rs91 lakh either.”
Karpe said, “The victim had approached the police last week. After studying his complaint application, we registered the case and arrested the realtor, Unecha. We appeal to people at large to approach the police if they have been cheated by Unecha.”