From friends to con artists: Elderly woman loses Rs 3.5 cr in 'deceitful ploy'

Hameed Ashraf | NT

Bengaluru: Four people, including three women, have been arrested by the city police on allegations of cheating an elderly woman out of Rs 3.5 crore.

According to the police, the accused orchestrated the sale of the woman's house and then deceived her, pocketing the proceeds.

Initially, the authorities identified two suspects as Apurva Yadav and her husband Rakesh. Subsequently, Apurva's mother, Vishala, and her friend, Arundhati, were apprehended for their roles in the crime.

Police sources indicate that Apurva used to work at a private bank, while her friend Arundhati was employed at an insurance firm. As detailed in the First Information Report (FIR), in 2021, Arundhati and Rakesh, posing as insurance brokers, approached the 63-year-old victim.

After cultivating a friendship, they informed her of alleged vaastu issues within her residence, coercing her into selling the property through a broker and a seller connected to the two suspects.

After the sale amount was deposited into the victim’s account, the suspects pressured her into liquidating two Fixed Deposits (FDs) totalling Rs 1.9 crore.

Additionally, they induced the victim to sign 5-6 cheques and various blank forms, according to the FIR. Between May 16, 2023, and June 23, 2023, the suspects allegedly exploited the signed cheques to transfer Rs 3.5 crore from the victim's account to the bank accounts of other individuals, as indicated in the FIR.

Subsequent to the arrest of the four suspects, the Banashankari police, who conducted the investigation, successfully recovered Rs 1.75 crore. A continued investigation aims to locate other suspects involved in the case, namely Sanjeevappa, Parimala, and others.

The suspects have been charged under various sections of the Indian Penal Code, including Section 406 (pertaining to punishment for criminal breach of trust), Section 417 (pertaining to punishment for cheating), Section 420 (pertaining to cheating and dishonestly inducing property delivery), and Section 34 (pertaining to acts done by multiple individuals in pursuit of a common intention).