The property cell arrested Nishit Patel following the fraud’s exposure.

An FIR registered at Khar Police Station names six accused, including Mahesh Patil, an Assistant Commissioner with the Brihanmumbai Municipal Corporation (BMC). A court has remanded Patel to police custody until May 19.

According to investigators, the scheme began in April 2024 when Habiba Jaffrey received a BMC property tax notice regarding her Andheri flat.

A man identified as Ali Raza then connected her with Patil, who pitched a supposedly lucrative investment opportunity in a Bandra redevelopment project and directed her to route funds through Nishit Patel.

The accused convinced the Jaffrey family that they held close ties to prominent builders and senior government officials. They promised high returns, premium property, and swift possession to secure the family’s trust.

Police say the conspirators fabricated documents, including forged letters of interest and fake registration papers, to make the scheme appear legitimate.

Habiba Jaffrey’s funds were subsequently moved through multiple shell company bank accounts. Patel has since admitted to preparing the fraudulent documents, according to investigators.

Police are now raiding multiple locations in search of Patil and other absconding accused.

Investigators are also examining whether other prominent Mumbai residents invested in the same project and may also have been defrauded.

This is not Patil’s first brush with controversy. He faced allegations of illegal investment in the same Bandra project previously, resulting in a forced leave of absence last year, charges he denied at the time.