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The Dadar police have booked two persons for cheating a 36-year-old man of Rs 12.5 lakh. According to the police, the accused lured the victim with promises of doubling his money, claiming that funds were urgently needed to clear a Supreme Court-imposed penalty and unfreeze a bank account. The fraud took place over the course of one year (March 2025-March 2026).

Police said that the complainant, a Dadar resident and a driver by profession, was approached in March last year through his acquaintance Rakesh Shikari, who introduced him to the main accused Hem Ketan Thakkar, 45, a resident of Lower Parel.

Thakkar allegedly told the victim that his bank account had been frozen due to large financial transactions and that he had approached the Supreme Court, and once the amount was paid, the account would be unfrozen. In return, he promised to double the money.

Victim pays money

The victim (name not given) initially arranged Rs 2 lakh through a friend and gave it to the accused. The next day, he gave an additional Rs 3.5 lakh in cash. To gain confidence, Thakkar issued a post-dated cheque of Rs 14 lakh, asking the victim to deposit it later. However, when the cheque was deposited on April 28, 2025, it bounced.

Demand for more

Thakkar allegedly convinced the victim to arrange more money, citing additional court penalties and claiming he needed further Rs 10 lakh to release the account. Believing the assurances, the victim borrowed Rs 5 lakh from his two friends and Rs 2 lakh from his wife and handed over Rs 7 lakh more to Thakkar. 

Fake cheques issued  The accused allegedly issued multiple high-value cheques, including Rs 50 lakh and Rs 1 crore cheques in the names of the victim’s associates, assuring repayment within eight days. However, all cheques bounced, police said.

Police Speak

Officer, Dadar police station
The fraud took place between March 2025 and March 2026, during which the accused allegedly collected Rs 12.5 lakh from the victim and his associates and offered higher returns. Two accused have been booked for cheating and criminal intimidation under the BNS Act. The accused persons will be sent legal notices to appear for investigation.

Threats and intimidation

Police further said that another accused, Madan Jha, an associate of Thakkar, later contacted the victim and pressured him to not ask for money or make further demands. He also issued threats if the victim continued to pursue the matter.