Thane Woman Extorts Rs 4.39 Crores From Retired CEO, Arrested

The woman, 45, met the retired CEO, 65, through a mutual contact when she first visited the Wadala Bank, of his branch in 2016.

According to the reports, the woman approached the retired CEO claiming that she needed a loan due to financial problems. During the loan process, the bank found out her documents were incomplete, and in accordance with the protocol, they required a survey of her house in Khopri, Thane's Anand Nagar district. The report said that the FIR stated that in February 2017, when the retired CEO visited her home to examine the documents, the woman coerced him into having physical relations with her. Afterwards, a 3 Lakh loan was sanctioned with an EMI of Rs 7,300 per month.

After a month, the woman started using blackmail to force the man to pay Rs 8 crore by threatening him, to show his family and coworkers the nude pictures he had sent her on WhatsApp. At first, the complainant gave her Rs 5 lakh under pressure. He managed to pay off the amount of Rs 4.39 crore in 108 installments, between 2017 and 2023 by selling his flat, taking money out of his provident fund, and by taking loans from different people.

In spite of receiving a substantial amount of money, the woman continued demanding more, which led the man to eventually approach the authorities, due to persistent extortion.

The complainant recently reported the woman to the police when she requested an additional Rs 5 lakh. The police set the trap and convinced the woman to settle at 1 Lakh rupees. The lady was arrested as she was accepting the 1 Lakh Rupees, on Tuesday.

The authorities are currently carrying out a thorough investigation, which includes following the money trail to find out where the extorted money was invested and whether the woman bought any assets. They are also investigating if there were more participants in the extortion plot.