Bhiwandi Powerloom Owners Cheated in Investment Scam

A powerloom owner and several others in Bhiwandi, Thane, were reportedly duped of several lakh rupees by Anji Gorappa from Tamil Nadu. He promised high returns on share market investments but failed to deliver, returning only part of the money before ceasing communication. Police are investigating.

In a striking case of financial fraud, a powerloom owner and several others in Bhiwandi, Thane district, have been duped of several lakh rupees by a Tamil Nadu-based individual, according to local authorities.

The accused, identified as Anji Gorappa, allegedly convinced the group to invest in the share market with the promise of high returns. Over a period from November last year to March 2024, the group transferred Rs 57 lakh to Gorappa, who returned only Rs 30 lakh before cutting off communication, the police said.

An IPC case of cheating has been filed, and efforts are currently underway to apprehend Gorappa, said an official from the Bhiwandi City police station.

(With inputs from agencies.)