Mumbai Brokers Named in ₹11 Crore Fraud Chargesheet After Advertising Payment Dispute
Mumbai: Two directors of a Mumbai-based real estate consultancy have been named in a chargesheet filed by the city police’s Economic Offences Wing over an alleged fraud of more than ₹11 crore linked to unpaid advertising dues.
The accused, Amit Bhagwan Wadhwani and Vicky Bhagwan Wadhwani, are directors of Sai Estate Consultants Chembur Pvt Ltd.
The complaint was filed by Manish Tulsidas Thakkar, director of MAD (India) Pvt Ltd, who alleged that his company was not paid for services provided between June 2017 and January 2024.
Police said the advertising agency managed multiple campaigns, including hoardings and bulk SMS promotions, for the real estate firm. While the total dues reportedly crossed ₹17 crore, less than ₹6 crore was paid.
According to investigators, when payment was repeatedly sought, the complainant was allegedly threatened and manhandled by bouncers at the office premises. Amit Wadhwani has also been charged with criminal intimidation.
Officials further stated that some funds were allegedly diverted toward personal and business expenses instead of clearing pending dues.
The two accused were previously booked in another cheating case last year involving an alleged ₹3.4 crore fraud along with builder Lalit Tekchandani.
News source: Information for this article was gathered from a variety of reliable news outlets.
