The Amboli police have arrested a woman and her son for allegedly defrauding a 47-year-old businessman of approximately ₹9 crore
A woman and her son were arrested by the Amboli police in a case of alleged fraud, where a 47-year-old businessman was defrauded of approximately ₹9 crore. The accused, identified as Arzubano Ahateshamuddin Syed and Saifuddin Ahateshamuddin Syed, were presented before the Bandra court, which remanded them to police custody until March 20.
According to the police, the complainant, a businessman residing in Andheri, came into contact with a woman named Shahnila Syed in October 2023, and over time, they became good friends. Shahnila claimed to be a doctor involved in clinical research for cancer treatment at D.Y. Patil Medical College, and she assured the businessman that many investors had put money into the project and received excellent returns.
To deceive the businessman further, she allegedly fabricated a story about her husband passing away in an accident, leading to financial difficulties for her family. She said that she had to sell her husband's belongings and covered her body with a sheet to conceal her identity.
In October 2023, Shahnila began persuading the businessman to invest in the clinical research project at D.Y. Patil Medical College, promising a monthly return of 4-5% and a total return of double the invested amount. To gain his trust, she showed him small amounts of money that she had purportedly earned through the investment.
Trusting her, the businessman transferred a total of ₹10.25 crore into her two separate bank accounts between October 30, 2023, and February 25, 2025. Initially, she returned ₹1.18 crore as a part of the promised returns. However, she later stopped making payments and began giving evasive replies when contacted.
When the businessman questioned her about the pending returns, he received unsatisfactory responses such as "the accounts department is busy" or "I will pay you later." Finally, she stopped answering his calls. Realizing that he had been duped, he demanded the return of his investment. However, instead of refunding the amount, she continued to delay and evade him.
Shahnila had managed to return only ₹1.18 crore while fraudulently retaining ₹9.07 crore. Following this, the businessman lodged a complaint against her at the Amboli police station. After a thorough investigation, the police registered a case against her under relevant sections of the Indian Penal Code (IPC) at the Amboli police station.
Senior police officials took serious note of the case and ordered the immediate arrest of the accused. Acting on the directives, the police apprehended Arzubano Syed and her son Saifuddin on Saturday. Further investigations are underway.
