Mumbai Fraud: 6 Individuals Booked For Duping Lucknow Businessman Of ₹40 Lakh On Pretext Of ₹12 Crore Loan

Mumbai: The Vinoba Bhave Nagar Police have registered a case against six individuals for allegedly cheating a Lucknow-based businessman of Rs 40 lakh under the pretext of arranging a loan of Rs 12 crore for him.

Accused Identified in Loan Fraud Case

The accused, identified as Irfan Shaikh, Amol Pawar, Taufiq Ahmed, Ravasahib, Sanjeev Saha, and Rajkumar Goswami, allegedly lured 53-year-old Rafi Ahmed Siddiqui with a promise of securing a loan worth Rs 12 crore against his bungalow located near the Lucknow airport.

Businessman’s Plan to Convert Bungalow into Hotel

According to the FIR, Siddiqui resides at Abdullah House in Lucknow, close to the airport. He owns a 3,500 sq ft bungalow, which he often rents out for film shoots. Realizing the property's potential due to its prime location, he decided to convert it into a five-star hotel. However, the ambitious project required significant funding, prompting Siddiqui to search for financiers.

Initial Contact Made Through Middleman

In March 2025, a friend, Sarvan Kumar Tripathi, introduced him to a Mumbai-based individual named Anis, who claimed he could help arrange the required finance. Anis then connected Siddiqui with Taufiq, who assured him of loan arrangements and requested necessary documents. Siddiqui was called to Mumbai, and on April 26, he flew in and stayed at Hotel Leela International near Sahar.

Meetings in Mumbai with Accused

Taufiq arranged a meeting at Hotel Sahara on LBS Road, Kurla, where he introduced Siddiqui to Irfan Shaikh and Amol Pawar, allegedly the key persons behind the loan process. They told Siddiqui he would need to pay Rs53 lakh upfront for loan processing.

Inspection of Bungalow by Accused

Subsequently, Sanjeev Saha visited Siddiqui’s Lucknow bungalow and informed him that a loan of up to Rs 20 crore could be sanctioned. However, Siddiqui clarified he only required Rs 12 crore.

Based on the trust built, Siddiqui transferred Rs 26.80 lakh through an angadiya (courier) service, Rs 11.20 lakh in cash, and another Rs 2 lakh via RTGS to Rajkumar Goswami.

Accused Kept Demanding More Money

Despite making these payments, Siddiqui never received the promised loan. Instead, the accused allegedly kept demanding more money. Realizing he had been cheated, Siddiqui filed a complaint with the Vinoba Bhave Nagar Police Station.

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Case Registered Under BNS Act

Based on his complaint, the police registered a case under Sections 3(5), 316(2), and 318(4) of the Bharatiya Nyaya Sanhita (BNS) Act. Further investigation is underway.a