Sanjay Krishna Jadhav is in police custody in Mumbai, accused of taking Rs 10 lakh from a businessman for a container trading deal that never paid out. Dindoshi police arrested him two days before the report. His father retired from the Mumbai Police as a senior inspector in 1988.
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 Rahul Shailu Yamla for nearly ten years. Police said Yamla, who allegedly worked as a personal loan facilitator and property agent, introduced him in April 2026 to Jadhav and a third man, Rajkumar Ayyar.
According to the complaint, the three 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 was told that if he put in Rs 10 lakh, he would get Rs 4 lakh on top within 15 days.
He trusted Yamla and sent the money by RTGS to Jadhav’s bank account.
Neither the profit nor the original sum came back, police said. Gaikwad alleged that his requests for repayment were met with delays and excuses.
Threat alleged in the FIR
The First Information Report says the dispute turned ugly when Gaikwad demanded his money. He alleged that Jadhav refused to pay and, in later conversations, brought up his father’s old post as a senior police inspector and threatened to “break his arms and legs.”
After the cheating case was registered, police said, all three accused went into hiding. An investigating officer said Jadhav is being questioned and, according to police, admitted during interrogation that he took part in the fraud along with the other two. Police added that the case concerns the son, not his father.
Yamla and Ayyar are still absconding. Officials said investigators are going through bank records, digital evidence and money trails to establish how far the scheme reached.
None of the allegations has been tested in court.
Sources
- Mumbai: Retired Police officer’s son arrested for alleged Rs 10 lakh investment fraud
- Mumbai Investment Scam: Police Arrest Son of Retired Inspector in Alleged ₹10 Lakh Fraud
