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Accused in SIES fraud arrested again in cheating case

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Mohammed Fasihuddin, the main accused in the sensational South Indian Education Society (SIES) trust fraud case, has been arrested by the economic offences wing (EOW) of the Mumbai crime branch for allegedly duping a doctor from Matunga to the tune of Rs 4 crore.

According to EOW sources, the complaint was lodged by Matunga resident Dr Triyambak Kulkarni in October 2013.

"Kulkarni had a fixed deposit of Rs 5 crore in the Peddar Road branch of a nationalised bank. A financial consultant Anil Pawar met him and told him that if he made a fixed deposit in the Santacruz branch of the bank through him, he would get a higher rate of interest," said an EOW officer, requesting anonymity. The officer added, "It was Fasihuddin who introduced Pawar to the Santacruz bank, so we arrested him with Pawar. Investigations have revealed that Fasihuddin was aware of the fraud and was equally involved."

"Pawar then got an FD of Rs 2 crore made in Kulkarni's name with the Santacruz branch and siphoned off the money using overdraft facility. Pawar also opened a bogus savings account in Kulkarni's name with the same branch and later transferred the money to various other accounts through RTGS," said the officer.

The bank informed the complainant about the overdraft made. "He also learnt that a savings account was opened in his name using bogus documents and the money was transferred. Kulkarni then lodged a police complaint in this regard on August 5," the officer said.

The police have booked Fasihuddin, Pawar and other unknown persons under sections 409 (criminal breach of trust), 465 (punishment for forgery), 467 (forgery of valuable security), 468 (forgery for the purpose of cheating), 471 (using a forged document as a genuine one), 420 (cheating) and 120 B (criminal conspiracy) of the Indian Penal Code.

Mohammed Fasihuddin, chairman of Showman group and owner of Sheesha lounge chains, was earlier arrested by the EOW for allegedly duping various government institutions of Rs 300 crore.

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