A property developer from Mumbra in Maharashtra’s Thane district was allegedly duped of Rs 4.95 crore after two people he had entrusted with selling flats in his under-construction project allegedly executed unauthorised sale agreements and misappropriated the proceeds, police said on Saturday.

The Mumbra police have registered a case against Nadim Sheikh and Akhtar Hussein Baig following a complaint by the developer.

According to police, the two accused allegedly gained the developer’s trust by offering to sell flats in his under-construction project for a nominal brokerage fee.

Accused allegedly sold flats in developer’s absence

The complainant alleged that the two men took advantage of his absence between April 2024 and August 2026.

During this period, Sheikh and Baig allegedly entered into unauthorised sale agreements with prospective buyers in their own names, without the developer’s knowledge or approval.

Police said the accused allegedly sold 52 flats in the project and misappropriated the money received from the transactions.

The developer has alleged that the transactions caused him a financial loss of Rs 4.95 crore.

FIR registered under BNS provisions

Following the complaint, Mumbra police registered an FIR against the two accused under Section 316(2) of the Bharatiya Nyaya Sanhita (BNS), which deals with criminal breach of trust, along with other relevant provisions.

The police have begun investigating the alleged transactions and are examining the agreements entered into with prospective buyers.

Investigators are also expected to verify the flow of money from the flat sales and determine how the proceeds were allegedly diverted.

Police probe sale agreements and financial transactions

The investigation will also focus on the circumstances in which the accused allegedly entered into the sale agreements and whether the buyers were aware of the developer’s alleged lack of consent.

Police are examining the documents associated with the 52 flats and the financial records linked to the transactions.

The case remains under investigation, and further action will depend on the evidence gathered during the probe.

Doctor loses Rs 60,000 after downloading malicious file sent by cyber fraudster

In a separate incident, the police have registered a case against a cyber fraudster after a doctor from Maharashtra’s Thane city was duped of Rs 60,000 in an online delivery scam, officials said on Saturday.

Complainant Abdul Vahid Jalaluddin Siddiqui (46), a resident of Mumbra, had purchased items online but did not receive his delivery. When he searched online for customer care assistance, he was unable to reach a valid number.

(With inputs from PTI)