Mumbai Crime Branch Intensifies Probe Into Multi-Crore Investment Scam
A senior Brihanmumbai Municipal Corporation (BMC) official has allegedly gone into hiding after being suspended in connection with a ₹16.24 crore fraud case involving Habiba Jaaferi, wife of actor Jaaved Jaaferi. The case, which revolves around an alleged fake redevelopment investment scheme, is now being investigated by the Mumbai Crime Branch. Authorities believe the fraud was carefully planned using forged documents, false promises, and multiple entities to gain the victim’s trust.
How Trust Was Established
According to investigators, the accused official, Mahesh Patil, was serving as an Assistant Commissioner in the BMC’s K-North Ward. He reportedly came into contact with the Jaaferi family while dealing with a property tax-related matter concerning their Andheri residence.
Investigators claim that after building a relationship with the family, Patil introduced a lucrative investment opportunity linked to a redevelopment project in Mumbai. The proposal promised attractive returns and assured possession within a fixed timeline, making it appear like a secure and profitable investment.
Alleged Redevelopment Project Used as Bait
The investment was allegedly tied to a commercial redevelopment project known as “New Kamalkunj” in Bandra West. Habiba Jaaferi was reportedly convinced to invest significant funds after being assured of high returns and the project’s legitimacy.
Authorities allege that the accused used fabricated documents, forged maps, fake letters, and misleading project-related visuals to create an impression that the redevelopment project was genuine. Investigators also suspect that sophisticated methods were employed to make the paperwork appear authentic and government-approved.
Funds Allegedly Routed Through Multiple Entities
The investigation has revealed that the money invested by the family was allegedly diverted through several companies and business entities. Crime Branch officials are tracing financial transactions to determine how the funds were moved and whether additional individuals were involved in the operation.
Businessman Nishit Patel and several others have also been named in the case. Investigators believe the fraud may have involved a larger network and are examining whether similar schemes were used to target other investors.
FIR Registered, Accused Official Missing
An FIR has been registered at Khar Police Station against Mahesh Patil and multiple co-accused. Following the registration of the case and subsequent suspension order, Patil reportedly became untraceable.
The BMC issued a suspension order against the official, and authorities have launched efforts to locate him. Crime Branch teams are conducting searches and examining financial records, communication trails, and supporting evidence to uncover the full extent of the alleged fraud.
Crime Branch Continues Investigation
The case has attracted significant attention because of the amount involved and the alleged misuse of a public position. Investigators are now focusing on identifying additional victims, tracing the money trail, and determining whether more arrests are necessary.
Officials have stated that the investigation remains active and further developments are expected as evidence continues to emerge.
