Navi Mumbai Businessman Loses ₹71 Lakh in Hawala Scam

A 37-year-old businessman from Ulwe, Navi Mumbai, has alleged that he was cheated of ₹71 lakh by four persons who promised to transfer ₹1 crore to South Africa through a hawala network. The accused neither sent the money overseas nor refunded the full amount.

The complainant, Prashant Nadar, runs a mining equipment rental business in Guinea, South Africa. His business was hit after financial transactions in the African nation came to a standstill in March 2023, leaving him in urgent need of funds abroad.

To arrange the money, Nadar mortgaged his wife's jewellery and borrowed from relatives and friends, raising ₹1 crore. As regular banking channels were unavailable, he began looking for alternative ways to transfer the funds. A friend introduced him to Lalit Sahu, who allegedly introduced him to Ashish Hemchandra Manjrekar, claiming he was an Angadia operator capable of transferring the money to South Africa through hawala for a seven per cent commission.

Nadar handed over ₹1 crore in cash to Ashish Manjrekar on April 18, 2023. Police said Lalit Sahu, Ashish's wife Manavi Manjrekar, and his brother Mahesh Manjrekar were present when the cash was handed over.

Instead of transferring the money, the accused allegedly kept delaying the transaction by citing various reasons. They later issued promissory notes and cheques, assuring repayment. However, while they returned ₹29 lakh, the remaining ₹71 lakh was never repaid, prompting Nadar to approach the court.

The APMC Police have registered a case against the accused and launched a search for them. The accused have been booked under Sections 318(4), 316(2), and 3(5) of the Bharatiya Nyaya Sanhita (BNS), 2023.

The police are investigating the matter and efforts are underway to trace the accused. Further action will be taken based on the evidence collected during the probe.

This incident highlights the risks of using hawala networks for financial transactions. The use of such networks can lead to significant financial losses, as seen in this case. The police are urging citizens to be cautious when dealing with financial transactions and to use legitimate channels to avoid such scams.

The APMC Police are taking steps to prevent such incidents in the future. They are advising citizens to be aware of the risks associated with hawala networks and to report any suspicious activities to the authorities.

In recent times, there have been several cases of cheating and fraud reported in Navi Mumbai. The police are working to prevent such incidents and to bring the accused to justice. Citizens are advised to be vigilant and to report any suspicious activities to the authorities.

The incident has caused significant financial loss to the complainant and has highlighted the need for citizens to be cautious when dealing with financial transactions. The police are working to prevent such incidents and to bring the accused to justice.

The case is under investigation and further details will be revealed as the probe progresses. The police are urging citizens to come forward and provide any information that may help in tracing the accused.

In conclusion, the incident highlights the risks associated with using hawala networks for financial transactions. Citizens are advised to be cautious and to use legitimate channels to avoid such scams. The police are working to prevent such incidents and to bring the accused to justice.