Rajkot, Aug 25 (IANS) The Rajkot City Police of Gujarat have arrested a man from Indore in Madhya Pradesh for allegedly cheating the complainant and several investors of Rs 9.61 crore by promising high returns through a firm named ‘Dwarkadhish Enterprise’.
The accused, identified as Hardik Tanna, was arrested by a team of Gandhigram-2 (University) Police Station from Vijay Nagar in Indore after police received information about his whereabouts through technical and confidential sources, according to officials.
Police said the alleged fraud began in 2023. Tanna allegedly told the complainant and other investors that Dwarkadhish Enterprise was involved in swiping different debit cards and providing loans against them.
He allegedly persuaded them to invest by assuring them of good returns. According to the police, the accused initially returned some money to investors as returns to gain their confidence.
After establishing their trust, he allegedly promised higher profits and collected further investments through bank accounts as well as in cash.
Police said Tanna subsequently collected a total of Rs 9,61,91,492 from the complainant and various investors but did not return the money.
He allegedly caused substantial financial losses to the investors, misappropriated the funds and fled from Rajkot.
An offence was registered at Gandhigram-2 (University) Police Station on August 19 under Section 316(5) of the Bharatiya Nyaya Sanhita, 2023, and Section 3 of the Gujarat Protection of Interests of Depositors (in Financial Establishments) Act, 2003.
Following the registration of the case, Police Inspector K.K. Gohil directed Police Sub-Inspector R.R. Kothiya and the team to trace the accused.
Police said information was received that Tanna was in Indore, following which a team was sent to the city and arrested him from the Vijay Nagar area.
During questioning, the accused admitted to the offence. He was brought back to the police station, and further legal proceedings were initiated.
“The operation was carried out under the direction of Rajkot City Police Commissioner Brajeshkumar Jha and Additional Police Commissioner Chaitanya Mandlik, with supervision and guidance from other senior officials,” police added.
–IANS
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