Mumbai Builder Charged ₹13 Crore in Fraud by Economics Wing
MUMBAI: The Economic Offences Wing has filed a chargesheet against builder Lalit Jain for falsifying property documents and defrauding a businessman from Nagpur by persuading him to invest ₹12.50 crore in a redevelopment project in South Mumbai. Jain failed to reveal that the property, Sanjana Building in Malabar Hill, was embroiled in litigation with the Waqf Board. Jain convinced the complainant, Mahesh Goyal, and his family to invest ₹12.50 crore in the project with promises of a 45% equity stake in his Safeway Project Pvt. Ltd. and an annual return of 18%. However, only 25% of the shares were actually…