Five US business honchos booked for duping Khar man of Rs 32 lakh

MUMBAI: The Khar police have registered an FIR against three top executives of a US-based investment vehicle and two of a startup for allegedly duping a Khar entrepreneur of around Rs 32 lakh.the FIR, lodged following an order of the Bandra magistrate court on April 26, has named Scaale Group's Kaushal Chokshi, Ashwin Sanzgiri and Mandar Gadkari as well as New York-based startup Springleap's Eran Eyal and .Rupinder Singh Arora (65) of Khar said he had invested USD 50,000 in Cross Border Angels (CBA), Scaale Group's investment network, in 2015 after he was promised three to six times return within six months through their investment in Springleap.In his complaint, Arora said Gadkari and Sanzgiri, CBA's representatives in Mumbai, called him up in June 2015 seeking a meeting to offer him good investment options. After several calls, he finally agreed to meet them. "Gadkari and Sanzgiri visited my Khar office and started pitching deals for investment in a startup ," Arora told TOI.Later, the duo introduced him to Chokshi as their boss and he allegedly expressed great confidence that Springleap was a firm with consistent growth and high potential and that he himself was an investor in it. Chokshi allegedly claimed the investors would get an exit in maximum six months with a return of about three-to-six times the investment. "On July 14, 2015, Gadkari addressed an email to Arora which shows the number of people from big stratum of life who have invested millions of dollars. The complainant could not understand the criminal motives," Arora's lawyer Deepa Mani said. Subsequently, Arora invested USD 50,000 in their fiInvestigators said that on March 1, 2016, Arora received a message from Gadkari stating that Springleap was not in existence any more and all funds have been siphoned off by its founder, Eran Eyal. When Arora demanded his money back, Gadkari allegedly promised that he would make the payment through another company and requested him not to initiate any legal action.However, as Arora did not receive the money after a long wait, he lodged a complaint.Khar police senior inspector Ramchandra Jadhav confirmed a case of cheating has been registered. He said the probe is on. A case has been registered under the Indian Penal Code sections 405, 406, 409 (breach of trust), 420 (cheating and dishonestly inducing delivery of property), 120 (B) (criminal conspiracy), 34 (common intention) and under the Maharashtra Protection of Interest of Depositors (MPID) Act.  MUMBAI: The Khar police have registered an FIR against three top executives of a US-based investment vehicle and two of a startup for allegedly duping a Khar entrepreneur of around Rs 32 lakh.the FIR, lodged following an order of the Bandra magistrate court on April 26, has named Scaale Group's Kaushal Chokshi, Ashwin Sanzgiri and Mandar Gadkari as well as New York-based startup Springleap's Eran Eyal and .Rupinder Singh Arora (65) of Khar said he had invested USD 50,000 in Cross Border Angels (CBA), Scaale Group's investment network, in 2015 after he was promised three to six times return within six months through their investment in Springleap.In his complaint, Arora said Gadkari and Sanzgiri, CBA's representatives in Mumbai, called him up in June 2015 seeking a meeting to offer him good investment options. After several calls, he finally agreed to meet them. "Gadkari and Sanzgiri visited my Khar office and started pitching deals for investment in a startup ," Arora told TOI.Later, the duo introduced him to Chokshi as their boss and he allegedly expressed great confidence that Springleap was a firm with consistent growth and high potential and that he himself was an investor in it. Chokshi allegedly claimed the investors would get an exit in maximum six months with a return of about three-to-six times the investment. "On July 14, 2015, Gadkari addressed an email to Arora which shows the number of people from big stratum of life who have invested millions of dollars. The complainant could not understand the criminal motives," Arora's lawyer Deepa Mani said. Subsequently, Arora invested USD 50,000 in their fiInvestigators said that on March 1, 2016, Arora received a message from Gadkari stating that Springleap was not in existence any more and all funds have been siphoned off by its founder, Eran Eyal. When Arora demanded his money back, Gadkari allegedly promised that he would make the payment through another company and requested him not to initiate any legal action.However, as Arora did not receive the money after a long wait, he lodged a complaint.Khar police senior inspector Ramchandra Jadhav confirmed a case of cheating has been registered. He said the probe is on. A case has been registered under the Indian Penal Code sections 405, 406, 409 (breach of trust), 420 (cheating and dishonestly inducing delivery of property), 120 (B) (criminal conspiracy), 34 (common intention) and under the Maharashtra Protection of Interest of Depositors (MPID) Act.