Mumbai Police File Cheating Case Against Builder-Producer For Allegedly Duping Actress Varsha Usgaonkar, Others Of ₹47 Lakh

Mumbai, March 5: The Shivaji Park police have registered a case against builder, developer and film producer Avinash Ganesh Jadhav for allegedly cheating actress Mrinalini Subhash Jambhale, veteran actress Varsha Usgaonkar and two others of a total of Rs 47 lakh by luring them with promises of high returns on business investments.

Investment proposal for construction project

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According to the FIR, the complainant, Mrinalini Jambhale, 45, a resident of Dadar West, had earlier worked as an artist in Jadhav’s film Aai Mala Maru Nako. In August 2019, Jadhav reportedly visited her residence and claimed that he owned land worth Rs 2.5 crore in Panvel and was planning a plotting project at Poyaje in Pali Budruk village. He also said he needed financial assistance to quickly complete the fourth floor of a construction project at Uran Bazaar in Raigad.

Jadhav allegedly assured Jambhale that if she invested money in the project, she would receive attractive profits and the principal amount would be returned within a year.

Trusting his assurances, Jambhale informed her brother Mandar Jambhale about the proposal. Later, in October 2019, she also shared the investment opportunity with her friend, actress Varsha Usgaonkar, and Usgaonkar’s associate Zeenat Sultan Sayyed.

Four investors contribute ₹47 lakh

According to the complaint, Jambhale invested Rs 23 lakh in cash and through cheques at her residence. Jadhav subsequently executed an MOU agreement in Dombivli East and issued five cheques worth Rs 23 lakh to her.

Following Jambhale’s recommendation, Mandar Jambhale, Varsha Usgaonkar and Zeenat Sayyed also expressed interest in investing in the project.

In December 2019, Jambhale arranged a meeting between them and Jadhav at a restaurant in Santacruz. During this meeting, Mandar Jambhale and Varsha Usgaonkar each invested Rs 11 lakh, while Zeenat Sayyed invested Rs 2 lakh. In total, the four investors collectively invested Rs 47 lakh.

Payments stopped after initial returns

Initially, Jadhav reportedly paid Jambhale Rs 4.52 lakh as profit. However, the payments later stopped.

When Jambhale repeatedly tried to contact him, she allegedly found that Jadhav had been frequently changing his mobile numbers and residential addresses.

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Marathi Actress Varsha Usgaonkar Among Victims In ₹47 Lakh Investment Fraud; Mumbai Police Book Builder-Producer Avinash Jadhav

Suspecting fraud, Jambhale traced Jadhav to his residence in Dombivli East and demanded her money back. In her police complaint, she also alleged that he threatened her during the confrontation.

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