₹4.4 Crore Mobile Business Promise Ends in Alleged Fraud, Ghatkopar Man Arrested

Navi Mumbai: A business opportunity that was supposed to bring profits from the fast-growing mobile phone market allegedly turned into a ₹4.4-crore financial loss for a Govandi businessman. Navi Mumbai Police have arrested 30-year-old Deepak Karani, a Ghatkopar resident, in connection with the alleged cheating case.

According to police, Karani approached Satish Sawant, 40, in 2010 with a proposal to start a mobile phone retail business together. He allegedly convinced Sawant to become his business partner and invest money in a venture that was supposed to deal in high-end mobile phones and other handheld electronic devices.

The proposed business was to be based in Vashi. Karani allegedly assured Sawant that the store would cater to customers looking for premium mobile phones and that the partnership could generate significant profits.

Believing the proposal, Sawant allegedly invested a substantial amount of money.

But the business never got started.

The promised shop never opened

According to investigators, Karani repeatedly postponed the launch of the proposed Vashi store. What was initially expected to be a short wait allegedly stretched into almost two years.

As time passed, Sawant reportedly became increasingly concerned. He allegedly began asking Karani why the business had not started and eventually demanded that his money be returned.

Police said Karani then allegedly began avoiding Sawant’s calls and became difficult to contact.

“Karani said they would rent a store in Vashi and start retailing high-end phones. But for two years, he kept delaying the enterprise. When Sawant asked for his money back, Karani started avoiding his calls,” DCP (Crime) Suresh Mengade said, according to police.

With his attempts to recover the money allegedly unsuccessful, Sawant approached the police in June 2012 and filed a complaint.

Police struggled to track him down

Tracing Karani was reportedly not easy.

Police said he frequently shifted between rented flats in South Mumbai and avoided staying at one location for an extended period. According to DCP Mengade, Karani had allegedly changed his residence eight times in nine months.

The frequent moves made it difficult for investigators to establish his whereabouts.

Rather than relying only on residential addresses, investigators began examining his movements and travel habits.

Radio cabs provide a crucial lead

During the investigation, police reportedly discovered that Karani frequently travelled to meetings using radio cabs.

Investigators approached a cab company and used travel information to help trace his movements. The lead eventually took police to a rented flat in Chembur.

Officers located Karani at the residence and arrested him in connection with the alleged cheating case.

Six phones and 16 SIM cards recovered

Police said they recovered six mobile phones and 16 SIM cards from Karani.

Investigators are examining the devices and communication records to understand his contacts and movements and to determine whether they could provide information about other alleged business dealings.

The multiple phones and SIM cards have also prompted police to examine whether Karani maintained contact with several people through different numbers.

Police suspect similar business proposals were used

The investigation allegedly uncovered information suggesting that Sawant may not have been the only person approached with a mobile phone business proposal.

Police said Karani, along with Shibu Madhavan and Afzal Kapadia, had allegedly been involved in another case concerning a similar smartphone retail business proposal.

In that case, a Goregaon-based businessman was allegedly cheated of around ₹28.8 lakh after being promised a share in the proposed venture, according to police.

Kapadia was arrested in connection with the earlier case and was later released on bail.

Investigators are now examining whether the earlier case and Sawant’s complaint were connected and whether other businessmen may have been approached using similar promises.

Investigation continues

Following Karani’s arrest, Navi Mumbai Police are examining the financial transactions, communication records and other evidence connected with the alleged ₹4.4-crore fraud.

The recovered phones and SIM cards could help investigators establish a clearer picture of Karani’s alleged contacts and business activities.

Police are also looking into whether there are additional victims who may not have yet approached the authorities.

For Sawant, what began as an opportunity to build a profitable mobile phone business allegedly turned into years of uncertainty and an effort to recover his investment.

The police investigation is now focused on tracing the money, establishing the circumstances surrounding the proposed Vashi business and determining whether the accused allegedly used a similar business pitch with others.

The allegations against Karani remain allegations until established through the legal process, and the investigation is continuing.

News source: Information for this article was gathered from a variety of reliable news outlets.