Broker cheats 54 APMC grain traders of ₹60 lakh

Grains were given to accused on credit

The APMC police are on the lookout for a broker who cheated 54 grain traders in Vashi of ₹60 lakh.

The police have identified the accused as Bharat Ratansingh Chandra, who has been working as a broker at APMC for eight years. The complaint was filed by Vishal Sethia, who has been associated with the accused since 2015.

Senior police inspector Satish Nikam said, “Mr. Sethia trusted Mr. Bharat and gave him grains on credit. In April and March, Mr. Sethia gave him grains worth ₹2.18 lakh.”

The accused then gave Mr. Sethia a list of names of 13 retailers he intended to sell the grains to. Later, when Mr. Bharat stopped answering his calls, Mr. Sethia tried tracking the 13 retailers from the list and found that their names and addresses were fake.

Mr. Nikam said, “The transporter revealed that he had taken all the grains were delivered to a single retailer in Malad.” The police then arrested Ramesh Bhanushali, a retailer from Malad who purchased stolen grains from the accused.

No bills involved

Mr. Nikam said, “There were no bills involved in this deal. This meant that Mr. Bhanushali must have been aware that the grains were fraudulently procured. Only after the broker is arrested will we know the cost price and selling price of the grains.” Mr. Bhanushali was arrested under Sections 420 (cheating), 406 (criminal breach of trust) and 34 (common intention) of the Indian Penal Code.

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Printable version | Feb 19, 2020 4:06:10 AM |

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