[popcorn number="Rs 4 lakh" desc="Alleged profit promised in 15 days" class="Default"]
Dindoshi police have arrested the son of a retired Mumbai Police senior inspector in connection with an alleged Rs 10 lakh investment fraud. The accused, Sanjay Krishna Jadhav, had been absconding after a cheating case was registered against him. He is currently in police custody.
Police said Jadhav, along with co-accused Rahul Shailu Yamla and Rajkumar Ayyar, allegedly duped a businessman by luring him to invest in a lucrative container trading business, promising high returns within a short period. A search is on for the remaining two accused.
False promise
The complainant, Yuvraj Jagannath Gaikwad, a Malad resident who owns a Xerox shop in Vile Parle, told police he had known Rahul Yamla for nearly a decade. Yamla, a personal loan facilitator and property agent, allegedly approached him in April 2026 along with Jadhav and Ayyar with an investment proposal.
The trio allegedly claimed they sourced cargo containers from Jawaharlal Nehru Port Authority and sold them in Masjid Bunder market at substantial profits. They persuaded Gaikwad to invest Rs 10 lakh, assuring him of a R4 lakh profit within 15 days.
Trusting Rahul due to their long-standing friendship, Gaikwad transferred Rs 10 lakh via RTGS to Sanjay Jadhav's bank account. However, neither the promised returns nor the principal amount were returned even after a month. The accused allegedly kept making excuses whenever Gaikwad sought updates.
Threat claims
When Gaikwad demanded his money back, Sanjay Jadhav allegedly refused and threatened him, invoking the fact that he was the son of a retired senior police inspector and saying he would "break his arms and legs." Following the complaint, Dindoshi Police registered a cheating case against all three accused, after which the trio allegedly went into hiding.
Probe on
Police arrested Sanjay Jadhav two days ago. "He used his father's former designation to intimidate the complainant," an officer said. During questioning, Jadhav allegedly admitted to committing the fraud with the help of two co-accused. Police said his father, Krishna Jadhav, retired from the Mumbai Police as a senior police inspector in 1988. Efforts are underway to arrest the remaining two accused, while the financial transactions are being investigated.
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