Mumbai Businessman Duped of ₹35 Crore in Long-Running Trade Scam, Lost Money Over 4 Years Without Knowing

Mumbai (The Uttam Hindu): A 72-year-old businessman from Mumbai has been cheated of nearly ₹35 crore in a major trade fraud that went on for four years without his knowledge. The elderly investor had trusted a trading firm with his money, believing his investments were safe and growing.

The man invested large amounts over several years, based on regular statements and reports given by the firm. These documents showed profits and healthy returns. However, all of it was fake. The firm had been quietly diverting his money for its own use.

The fraud came to light only recently, when some suspicious transactions were noticed and the family checked the accounts more closely. By then, almost ₹35 crore had already been lost.

A complaint has been filed, and the police are investigating the owners of the trading firm. Officials believe forged documents and fake reports were used to keep the businessman unaware for years.

The incident has shocked the family and raised questions about how such a large fraud went unnoticed for so long.