The accused, Mohammad Shaikh, has been running the racket since 2007. He is a school dropout and spread information about his business by word of mouth.
"Shaikh convinced his targets that he several contacts in Mantralaya and could easily book flats for them at rates less than market price. He even forged documents to mislead his targets," a police official said.
The victims waited for years and did not approach the police as they were confident of getting the flats. Finally, when they realized that Shaikh was a conman, they lodged an FIR on December 3 last year. Shaikh was booked under sections 420 (cheating) and 465 (forgery) of IPC.
The victims are all Mumbai residents and the police have recorded their statements. Officials believe that at least 25 more victims have been cheated by Shaikh but may not be aware as yet. Shaikh was remanded to police custody till Monday by a metropolitan court.
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