NRI Rajesh Tailor, 55, an electronics businessman from Harrow in London, has complained about a Mumbai resident who allegedly duped him of over Rs.230 million after enticing him to invest in a construction business and promising him double returns.
Tailor said from 2006 to 2014 he invested the money in construction projects after Pawan Kulwar, 38, of Goregaon lured him with promises of success. Instead the man failed to provide Tailor with any returns let alone the invested amount.
Police have arrested the accused and say they are collecting relevant documents used in the scam.
They also said if necessary they will make other arrests in the case. The accused Kulwar has been arrested for cheating, forgery, using fake documents, criminal conspiracy, and criminal intimidation. Kulwar has now been remanded to police custody for 5 days.