Powai, Mumbai – June 24, 2025:
In a deeply troubling case of exploitation and breach of trust, an 82-year-old retired electrical engineering professor from IIT-Bombay has been defrauded of ₹1.35 crore in cash and had three high-value Powai flats—worth nearly ₹4.89 crore—illegally transferred to his caretaker, according to Powai Police.
A Trusted Acquaintance Turns Fraudster
The accused, Nikita Naik, reportedly befriended the professor during morning yoga sessions in a local park in 2017. Over time, she became a permanent fixture in his life, eventually moving into his home under the pretense of offering care and assistance. With his wife and son living in Pune, the professor lived alone and was increasingly dependent on her for day-to-day needs.
Naik gradually gained access to his personal banking tools—ATM cards, cheque books, online banking credentials, and even blank signed cheques. Between 2022 and early 2025, she allegedly siphoned off over ₹1.35 crore into her own bank accounts, according to police officials.
Manipulated in Declining Health
In February this year, as the professor’s vision deteriorated, Naik allegedly moved him into an old-age care home in Vikhroli, claiming it was for better care. However, police investigations reveal that this was part of a calculated plan.
By April, while the professor’s health remained compromised, she allegedly pressured him into signing gift deeds that transferred ownership of three flats in Powai—valued at ₹4.89 crore—to her. She is also accused of removing gold jewellery, identity documents, share certificates, and property papers from his locker without consent.
Family Intervention Exposes the Crime
The fraud came to light when the professor’s son, concerned about his father’s sudden relocation, visited Mumbai in May. A conversation with his father at the care home raised red flags, prompting the family to investigate.
An FIR was filed at Powai police station on June 8. Naik has been detained for questioning and is likely to be formally arrested soon. The case has been registered under various IPC sections related to cheating, theft, and criminal breach of trust.
Larger Implications
This case serves as a stark reminder of the vulnerability of the elderly, especially those living alone. Police have urged families to stay in close contact with senior members, and advised the elderly not to hand over financial control or sign legal documents without consulting trusted family or legal counsel.
The investigation is ongoing, and efforts are underway to recover the stolen assets and reverse the fraudulent property transfers.
