The Dadar Police have registered a case against a Borivali-based builder for cheating a share market trader of ₹37.90 lakh in a fraudulent real estate investment scheme.
Real EstateFraudInvestmentShare MarketBuilderReal Estate NewsAug 28, 2025
The builder involved in the fraud is Arvind Parshuram Parab, 60, a Borivali-based builder and owner of A.P. Developers.
The trader, Jitesh Banwari Bhargav, was cheated of ₹37.90 lakh in a real estate investment scam.
The builder promised 12 commercial shops in a proposed real estate project in Borivali in exchange for the investment.
When the project did not start, the builder took additional money from the trader and promised to sell his Dadar office if the project did not commence.
A case has been registered against the builder under sections 318(4) of the Bharatiya Nyaya Sanhita (BNS) Act, and the investigation is currently underway.
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