Karandeep Singh Lugani, the victim, had taken a loan of Rs 1.5 crore for the investment
An Andheri-based man has been cheated of lakhs of rupees after his âbest friend' who made him invest in a car rental business absconded with the 20 cars he had invested in. The victim, Karandeep Singh Lugani, 32, has registered an FIR with the Andheri police against Sheldon Vaaz in this regard. The cops are currently in the process of recovering the stolen cars.
According to police sources, Vaaz has a history of cheating people using the same modus operandi and is considered a habitual offender. However, Lugani and Vaaz had been the best of friends for the last 13 years and so he trusted the latter with his investment
According to Lugani, he filed a written complaint with the Andheri police against Vaaz on August 16. "Vaaz was my best friend and I have known him for 13 years. He approached my parents, claiming to run a profitable car rental business, after which they convinced me to invest Rs 64.88 lakh into the business. I even took a loan of Rs 1.5 crore to purchase the cars," he said.
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Lugani said he handed over 20 used cars to Vaaz in May, along with Rs 9 lakh to purchase a used Audi. "However, he neither provided any profits nor returned the cars. I am still owed approximately Rs 46 lakh in profits. My best friend betrayed me," Lugani said.
According to a police officer, Vaaz rented out all 20 cars to customers and had been generating an income by doing so. "We have tracked down and are currently in the process of recovering the stolen cars," the officer said.
DCP Datta Nalawade said, "We have registered an FIR against Vaaz for cheating his friend and fleeing with 20 cars. We are in the process of recovering the cars but have not yet made any arrests. The FIR has been registered under IPC Sections 406, 420 and 506."