Businessman duped of Rs 85 lakh; one arrested, three on the run

Mumbai: A man was arrested for allegedly cheating a businessman of Rs 85 lakh, a Mumbai police official said on Monday.

Anwar Ali Hassan Machhiwala promised Ishaq Hunnemiya Syed, a Jogeshwari-based businessman, high returns in an investment scheme, including doubling of money in 15 months, the Dindoshi police station official said.

"Machhiwala's associates Sakhi Haider Syed alias Bhallu, Archana Satyendra Singh and Naji Sakhi Haider Syed are absconding. Sakhi Haider gained the victim's trust and borrowed money for the scheme. The accused repaid promptly at first but then stopped doing so. Syed later approached police after which a case of cheating and criminal breach of trust was registered," the official added.