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Indian American Woman: Victim of 9Mn Fraud
Bangalore: Ansuya Patel, an Indian American woman settled in north Memphis of Tennessee in U.S. has filed a complaint against her business partner Dilip Singh, for cheating her of 87 lakhs.
According to the complaint filed to Navrangpura police last week, Patel signed an MoU with Shah (memorandum of understanding) to start a knitwear company.
Ansuya, the owner of several motels in the U.S. met Shah, son of a knitwear factory owner in the year 2008.She then decided to enter the field of cloth manufacturing so as to expand her business and for this she partnered with Shah.
In 2009 she sent an amount of Rs2.95 crore to Shah via her US-based bank, to buy machinery and install it. Upon her return to India in 2011, Patel realized that Shah had sold three imported machines worth Rs 19 lakh to three different parties for just 4 lakh, without even telling her. Even though it was decided while signing the document that Patel would own a share of 51 percent in the company, Shah falsified the terms of MoU and did not allot her the promised share.
Ansuya also alleges that Shah gave away the amount from shares worth lakhs to his family members.