In a shocking revelation that has once again brought financial fraud into the spotlight, a Ghatkopar-based businessman has reportedly been swindled out of ₹6.84 crore in a share market investment scam. The scam, orchestrated by two brothers operating under the guise of a legitimate investment firm in Mumbai’s upscale Cuffe Parade area, has prompted a police investigation that may soon uncover a wider web of deception.
How a Businessman’s Trust Turned into a Multi-Crore Nightmare
The victim, identified as Paras Vinodchandra Kothari, is a well-known businessman and the owner of a private firm. According to official police statements, the accused – brothers Shashank Sunil Singhania and Siddhant Sunil Singhania – introduced themselves as professional stock market traders operating through their company named Sensa.
With convincing presentations, strategic discussions, and the promise of high returns, the Singhania brothers gradually gained the trust of Kothari. Over time, they managed to build a rapport not just with him, but also with his extended family and close relatives. The duo painted a picture of consistent, risk-free profits through equity investments and trading, appealing to the family’s desire for long-term financial growth.
₹9.85 Crore Transferred Over 16 Months
Between February 2024 and June 2025, Kothari and his family transferred a staggering ₹9.85 crore into Sensa’s bank account. Initially, to keep suspicions at bay and maintain trust, the accused reportedly returned ₹3 crore, packaged as early profits. This tactic not only reinforced the illusion of success but also motivated the victims to invest even more.
However, as the months passed, the promised returns dried up. Despite repeated attempts by Kothari to recover the remaining ₹6.84 crore, there was no sign of repayment—neither the profits nor the original investment amount were returned.
Police Case Registered: Charges of Cheating and Misappropriation
As the truth began to unravel, Kothari approached the Cuffe Parade Police Station, where a formal complaint was registered against Shashank and Siddhant Singhania. A case has been filed under multiple sections, including cheating and criminal misappropriation.
Investigators are now examining the full extent of the fraud, including bank records and transaction trails associated with Sensa. The police have also launched a manhunt to trace and apprehend the Singhania brothers, who are currently absconding.
Could There Be More Victims?
According to sources close to the investigation, there is rising suspicion that Kothari and his family might not be the only victims. Authorities are actively probing whether the Singhania brothers defrauded other investors in similar fashion, using the same strategy of short-term returns to lure larger sums of capital.
The case has raised serious questions about the due diligence processes followed by individual investors when engaging with private financial firms. Despite growing awareness around stock market risks and the importance of SEBI-registered advisories, many investors are still easily swayed by big promises and polished presentations.
Why These Frauds Continue to Happen
Stock market-related frauds are not new to India. In many cases, they revolve around unregistered firms or individuals offering “guaranteed returns,” which is fundamentally misleading in the context of stock trading. The lack of regulatory oversight and the high trust placed on interpersonal connections often make it easier for scammers to carry out such crimes undetected until it’s too late.
The current case highlights the critical importance of investor education and the need for stricter financial governance in the informal investment space.
What Investors Can Learn from This Incident
This scam should serve as a cautionary tale for others who may be tempted by the lure of fast profits through unofficial investment channels. Here are a few key takeaways:
Always verify the credentials of investment firms and ensure they are registered with the Securities and Exchange Board of India (SEBI). Never rely solely on verbal assurances or early returns as proof of legitimacy. Demand transparent documentation for all investment agreements. Avoid pooling family funds into a single entity without individual contracts or oversight. Maintain regular audits and independent reviews of any private investment engagement.
As investigations deepen into the Sensa firm and its founders, there is hope that law enforcement will be able to recover some part of the misappropriated amount and bring the culprits to justice. But until then, the case stands as a stark reminder of how financial trust, when misplaced, can lead to life-altering losses.
The story of Kothari’s ₹6.84 crore loss is not just about money—it’s about the fragility of trust in an era of polished deception, and the urgent need for smarter, safer investing in a volatile market.
