Mumbai developer Yusuf Lakdawala's son arrested in Rs 45 crore cheating case

MUMBAI: The city's Economic Offences Wing (EOW) on Friday arrested late developer Yusuf Lakdawala's son Firoz and his company's chartered accountant in a cheating case involving Rs 45 crore. Lakdawala's son is accused of usurping several of his family properties.
EOW arrested Firoz and the company’s chartered accountant, Akhtar Peerobhoy. They will be produced before a court on Saturday.
Police said that Peerbhoy used to handle Lakdawala's companies' affairs.Firoz, in connivance with Peerbhoy, committed cheating and took over the major portion of their company's shares. In this, Peerbhoy helped him, said the police.
Lakdawala, who was arrested by the Enforcement Directorate in a case, died in 2021. His wife, Shabina, has lodged a complaint in the EOW against Lakdawala’s son, Firoz, in May this year.
A police source said that while Lakdawala was in jail, Firoz allegedly took over several of Lakdawala’s properties. The source added that Firoz bought more shares in his name without giving his father an opportunity to exercise his shareholder rights. The source added that Firoz allegedly reduced the shares of his father and the complainant, Shabana, causing a loss of more than Rs 45 crore.