Close friend swindles businessman of 20 cars

A man based in Andheri has been swindled of lakhs of rupees by his so-called “best friend,” who had convinced him to invest in a car rental business but ultimately fled with the 20 cars that the victim had financed. The victim, Karandeep Singh Lugani, aged 32, has filed an FIR with the Andheri police against Sheldon Vaaz, who had previously been considered a close friend. Law enforcement is currently working to recover the stolen vehicles.
According to police sources, Sheldon Vaaz has a history of duping people through a consistent modus operandi, marking him as a habitual offender. However, Lugani and Vaaz had shared a strong friendship for 13 years, which ultimately led to Lugani entrusting Vaaz with his investment.
Lugani detailed the incident, explaining that he submitted a written complaint to the Andheri police on August 16. “Vaaz was my best friend, and I have known him for 13 years. He approached my parents, asserting that he managed a profitable car rental business. Following this, they persuaded me to invest Rs 64.88 lakh in the business. I even took a loan of Rs 1.5 crore to acquire the cars,” he recounted.
Lugani conveyed that he handed over 20 used cars to Vaaz in May, along with Rs 9 lakh intended to purchase a used Audi. However, Vaaz failed to provide any profits and did not return the cars. As a result, Lugani is still owed roughly Rs 46 lakh in profits. He expressed his deep disappointment, stating, “My best friend betrayed me.” According to a police officer involved in the case, Vaaz had rented out all 20 cars to customers and had been generating income through this means. “We have tracked down the vehicles and are presently in the process of recovering the stolen cars,” the officer confirmed.
DCP Datta Nalawade commented on the situation, saying, “We have registered an FIR against Vaaz for cheating his friend and absconding with 20 cars. We are in the process of recovering the cars but have not made any arrests yet. The FIR has been filed under IPC Sections 406, 420, and 506.”