Mumbai: Woman defrauded of INR 9 crore under the pretext cancer research

Cancer has always been a sensitive topic amongst people. Amidst this, there are people who leave no chance of duping cancer stricken people or the immediate relatives. In connection to the same, a case of fraud involving an investment under the guise of cancer research has been registered by the Amboli Police in connection with a woman from Jogeshwari who was defrauded of INR 9 crore. The accused, Shahnila Syed, promised the complainant a monthly return of 4-5% on her investment. However, it was later found that the INR 9 crore given to the accused was not invested in research as claimed.

The complainant, Shaira Khan, filed the complaint with the Amboli Police, leading to a case being registered under Section 316(2) (criminal breach of trust) and Section 318(4) (fraud) of the Indian Penal Code. Shahnila Syed, a resident of Jogeshwari, was named as the accused. 

According to the complaint, Syed had introduced herself as a doctor to Khan and claimed that she was involved in medical research for cancer treatment at a renowned hospital in Navi Mumbai. She lured the complainant with the promise that investing in this research would double the money in a short period.

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In return, Syed promised Khan a monthly return of 4-5% on her investment. Between October 30, 2023, and September 7, 2024, Khan invested INR 10.25 crore in three different bank accounts. In return, Khan received INR 1.18 crore in profits. After seeing this return and based on the bank transactions, Khan trusted Syed, and even her acquaintances started investing through her.

However, after some time, the returns stopped. When Khan inquired, she was given various excuses. Upon further investigation, it was found that none of the money was actually invested in cancer research. Instead, Syed used the funds for personal expenses. The amount of INR 9,06,99,855 which was supposed to go into cancer research, was misused by the accused for personal gain.

When Khan demanded her money back, she did not receive any amount. Eventually, she filed a complaint with the Amboli Police. After conducting a preliminary inquiry, the police registered a case of fraud and criminal breach of trust. The Amboli Police are continuing their investigation into the matter.