Mira Road: Police have registered a case after a 60-year-old was allegedly duped of Rs 40 lakh with the promise of a profitable partnership in a hotel business.

According to the complaint, the victim, Felix Costellino (60), was allegedly lured by the accused, Prakash Doddanna Shetty, with an offer of partnership in a hotel business with promises of high returns.

Trusting the offer, Costellino initially invested Rs 5 lakh in January 2021. Over the next few months, he made further payments totalling Rs 35 lakh, bringing the total investment to Rs 40 lakh.

The accused reportedly operated the hotel for two to three months before shutting it down, citing outstanding dues to the hotel owner. When Costellino demanded the return of his invested amount, Shetty allegedly claimed that the money had been reinvested in a metro project and assured that he would repay the principal along with profits from that project.

However, despite repeated follow-ups, the victim neither received the principal amount nor any profit.