The accused, Shenila Sayyid, is believed to have fled to Saudi Arabia after deceiving multiple investors by promising high returns on medical research projects
The Oshiwara police have registered a case of fraud against Shenila Sayyid, a Mumbai-based woman, for allegedly cheating an NRI freelance writer out of ₹41 lakh under the pretense of investment in a medical research company, reported freepressjournal.in.
How the Scam Unfolded
The victim, Dumita alias Diya Aluwalia, 27, an NRI author and freelance writer based in Austria, resides on Veera Desai Road, Andheri West. She met Shenila Sayyid through a mutual acquaintance, Fazal Khan, in April 2023.
Sayyid introduced herself as a doctor and the owner of Joina Creation, a Mumbai-based firm claiming to conduct medical research at major hospitals. She assured Aluwalia that an investment of ₹41 lakh in her project would generate returns of ₹2.40 lakh within four months.
Deceptive Investments and Fraud
Trusting the recommendation of her friend, Aluwalia invested ₹41 lakh between April 2023 and January 2025 via cheques and online transfers from her Austrian bank account to Sayyid’s Axis Bank and ICICI Bank accounts. Initially, she received ₹22.56 lakh as returns, boosting her confidence in the investment. However, payments soon stopped, and Sayyid became unreachable as her phone was switched off.
On further inquiry, Aluwalia discovered that multiple other investors had also stopped receiving returns. She later found out that Sayyid had disappeared from her residence and allegedly fled to Jeddah, Saudi Arabia.
Legal Action and Investigation
Realizing the extent of the fraud, Aluwalia approached the Oshiwara police and filed a formal complaint. The case was registered under sections 316(2) (criminal breach of trust) and 318(4) (cheating) of the Bharatiya Nyaya Sanhita on March 27, 2025.
Authorities have launched an investigation to trace the accused and uncover the full scale of the scam.
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