Rs 10 lakh moved by RTGS from one bank account to another, and the man who sent it was promised Rs 4 lakh more within 15 days. According to police, he got neither that profit nor his money back.
Dindoshi Police have arrested Sanjay Krishna Jadhav, son of a retired Mumbai Police senior inspector, in the case. Two co-accused, Rahul Shailu Yamla and Rajkumar Ayyar, are still absconding.
The complaint was filed by Yuvraj Jagannath Gaikwad, a Malad resident who runs a Xerox shop in Vile Parle. He told police he had known Yamla for nearly ten years. Yamla, who allegedly worked as a personal loan facilitator and property agent, introduced him in April 2026 to Jadhav and Ayyar.
The three, investigators allege, presented themselves as traders who bought cargo containers from the Jawaharlal Nehru Port Authority and resold them in the Masjid Bunder market at a large profit. Gaikwad, trusting his long acquaintance with Yamla, put Rs 10 lakh into Jadhav’s account.
Repayment requests drew delays and excuses, he said. Then came threats. According to the First Information Report, Jadhav refused to return the money and invoked his father’s old post as a senior police inspector. The complainant alleges Jadhav said he would “break his arms and legs”.
After the cheating case was registered, police say all three men went into hiding. Jadhav was arrested two days before the report. An investigating officer said he admitted taking part in the fraud with the two others during questioning.
His father, Krishna Jadhav, retired from the force in 1988. Police stressed that the case concerns the son.
Officers are going through banking records, digital evidence and money trails while they look for Yamla and Ayyar. None of the allegations has been tested in court.
