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₹131 Crore Investment Fraud Case Registered in Mumbai; EOW Takes Over Probe

Mumbai: A major financial fraud case involving over ₹131 crore has been registered by the Mumbai Police, with the Economic Offences Wing (EOW) initiating further investigation.
According to officials, a case was initially registered at the L.T. Marg Police Station, Mumbai, under Crime Register No. 498/2026, invoking sections 316(2), 316(5), 61(2), and 3(5) of the Bharatiya Nyaya Sanhita, 2023. Subsequently, the matter has been taken up by the Economic Offences Wing (EOW), Mumbai, under Crime Register No. 48/2026.
Complainant and Accused
The complainant has been identified as Jawaharlal Mohanlal Shah, a resident of Vivek Apartment, Tilak Road, Ghatkopar (East), Mumbai.
The accused named in the case include:
Rajiv Shah, owner of Triumph Realty
Anantray Girdharlal Shah, partner in Triumph Ventures
Rajiv Anantray Shah
Kumar Girdharlal Shah
Modus Operandi
As per the complaint, the accused allegedly conspired together and lured the complainant and his family members into investing large sums of money by promising an attractive return of 18%.
Between 2016 and March 2018, the accused initially paid returns to gain the trust of the investors. Encouraged by this, the complainant and his family invested a total amount of ₹64.70 crore through cash and cheques.
However, the accused later failed to return both the principal investment and promised returns. The total amount allegedly misappropriated, including returns, stands at approximately ₹131.41 crore.
Charges and Investigation

Police booked all accused under Section of B.N.N.S 316(2),316(5)61(2),3(5)The accused have been booked for criminal conspiracy, cheating, and financial fraud under the Bharatiya Nyaya Sanhita. The EOW is currently conducting a detailed investigation into the matter, including tracing financial transactions and assets linked to the accused.
Further developments are awaited as the probe progresses.