A couple from Goregaon was nabbed from a Surat hotel in a multi-crore cheating case
Mumbai: Ashesh Mehta, 41, and Shivangi Mehta, 34, residents of Goregaon, were detained by the Mumbai Police’s Economic Offenses Wing (EOW) on suspicion of organizing a multi-crore fraud scam. The pair was apprehended at a five-star Surat hotel after being on the run since June. 166 investors have jointly filed charges, claiming a total fraud value of ₹85.17 crore, including former MLA Krishna Hegde.
According to sections 420 and 34 of the Indian Penal Code, there were charges of cheating and common purpose in the case, which the Amboli police first reported in June. Due to the growing scope of the fraud, the case was then moved to the EOW in August.
The police officer stated, “They have been booked under sections 3 (fraudulent default by financial establishment) and section 4 (attachment of properties on default of return of deposits) of the Maharashtra Protection of Interest of Depositors Act, 1999 (MPID), as well as sections 420 (cheating) and 34 (common intention) of the Indian Penal Code.
According to reports, the accused’s stockbroking company, Bliss Consultants, was utilized to entice investors. Using the DIFM program, investors were encouraged to put money into firms listed on the Bombay Stock Exchange. The pair offered clients an extra 2.5% monthly return on their money using the DIFM trading app in exchange for a 30% brokerage fee on earnings.
Hegde, a victim, brought attention to the couple’s legal troubles in Gujarat and Punjab as well as their involvement in a heroin trafficking scheme in Madhya Pradesh, even though they were ultimately cleared. Hegde affirmed the seizure of assets worth ₹165 crore and emphasized the necessity for a comprehensive probe.
The pair was taken into jail by the police on Friday night and was not allowed to leave until January 4th when they appeared in court on Saturday. With more than 6,000 investors at risk, the fraud’s estimated value might be more than ₹1,000 crore.
