On December 31, 2015, Shobha Rathod, 38, met Lucky Sancheti at a common friend's New Year party. Sancheti boasted of his rich lifestyle and varied investment portfolio
The Thane crime branch arrested one-time Bollywood producer Lucky Sancheti for fleecing a Mulund-based woman of 1kg gold and 2kg silver. Sancheti promised her good returns in bullion trading and accepted gold instead of cash. The cops have done 100 per cent recovery and Sancheti has been remanded to judicial custody.
On December 31, 2015, Shobha Rathod, 38, met Lucky Sancheti at a common friend's New Year party. Sancheti boasted of his rich lifestyle and varied investment portfolio. "He told Rathod that he invests in the bullion market and earns handsome returns through his company Sancheti finance," said investigating officer Sameer Ahirrao, Thane crime branch unit-1.
They kept bumping into each other at common friends and relatives' parties. Rathod was impressed with Sancheti's lifestyle and agreed to invest. "He told her that if she does not have cash then she can give him gold jewellery and promised her three per cent monthly returns," added Ahirrao.
Rathod trusted him and gave 1,256 gram gold jewelery and two kilos of silver worth Rs 38.81 lakh in August 2016. When she would ask for returns, he would postpone the payment. After seven to eight months he gave her a cheque which bounced. This threw her aback hence she gave a written complaint against Sancheti to the Thane police in July 2017 as Sancheti then stayed in Pokharan road.
The cops began the investigation and it was on January 24, 2018 that an FIR was lodged against Sancheti under sections 406 (breach of trust) and 420 (cheating) of the Indian penal code. He was remanded to police custody till February 4 and during the investigation he confessed the whereabouts of the jewelery. "Some he sold, some he mortgaged. So it took us time to recover it. But at last 100 per cent has been recovered," said Ahirrao.
Sancheti was produced in Thane court and has been remanded to judicial custody in Thane's central jail.
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