shot-button
T20 World Cup 2026 Article Details T20 World Cup 2026 Article Details
Home > Mumbai > Mumbai Crime News > Article > Mumbai man cheated by startup investors loses gold worth Rs 15 lakh

Mumbai man cheated by ‘startup investors’, loses gold worth Rs 1.5 lakh

Updated on: 24 February,2026 07:16 AM IST  |  Mumbai
Aishwarya Iyer | aishwarya.iyer@mid-day.com

A chat in Shivaji Park about expanding venture ends with two self-styled investors disappearing with jewellery worth Rs 1.5 lakh

Mumbai man cheated by ‘startup investors’, loses gold worth Rs 1.5 lakh

Police officers said the accused’s step-by-step approach fits a typical confidence-building pattern. Representation pic/istock

Listen to this article
Mumbai man cheated by ‘startup investors’, loses gold worth Rs 1.5 lakh
x
00:00

A morning jog at Shivaji Park turned into a costly deception for Kiran More, a 34-year-old Matunga East resident, who police say was duped of gold jewellery worth Rs 1.5 lakh by two men posing as business partners who spent three days building trust before disappearing from a Bandra pub.

Case snapshot


Complainant: Kiran More, 34
Family: Wife and 10-year-old daughter
Names used by duo: Sanjay Singh and Abhay
Value of stolen jewellery: Rs 1.5 lakh



Police investigation

>> FIR registered at Shivaji Park police station
>> CCTV footage collected from the park and the pub
>> Accused are yet to be identified
“We have CCTV footage on,” a police officer said

How the con began

Feb 18, 9 am: More, on his routine exercise round at Shivaji Park, Dadar, asked two men on a nearby bench for a pen.

A casual chat followed, then a discussion about his part-time sportswear venture. The men offered to help expand it.Numbers were exchanged

Feb 19-20: Meeting plans were made 

Feb 21, 2 pm: Bandra West

Meeting at a gym, then a discussion at a pub in Pali Hill

At the pub
Suspect sprays perfume on More, claims relatives are arriving, borrows More’s chain and ring

Minutes later
Steps out, claiming he would bring his relatives, never returns, and switches off the phone

How trust was built

>> Follow-up calls
>> Plans where meeting locations were shifted
>> Lengthy business discussions
>> Police say this step-by-step approach fits a typical confidence-building pattern

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!

Did you find this article helpful?

Yes
No

Help us improve further by providing more detailed feedback and stand a chance to win a 3-month e-paper subscription! Click Here

Note: Winners will be selected via a lucky draw.

Help us improve further by providing more detailed feedback and stand a chance to win a 3-month e-paper subscription! Click Here

Note: Winners will be selected via a lucky draw.

shivaji park matunga Gold Bandra CCTV mumbai news mumbai mumbai police

Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK