Two booked for duping Mumbai-based advertising firm of over Rs 11 crore

Two brothers have been booked for duping Mumbaibased advertising firm of over Rs 11 crore an official said on Thursday reported news agency PTIMumbai Police have registered a first information report FIR against two brothers for allegedly duping an Mumbaibased advertising firm of over Rs 11 crore the official said reported PTIVicky Bhagwan Wadhwani and Amit Bhagwan Wadhwani allegedly duped Manish Tulsidas Thakkar owner of an advertising firm said an official of Chembur police station reported PTIThe duo used the services of Thakkars firm and ran up a bill of Rs 1707 crore since January 2016 but paid only Rs 595 crore the complainant told the police reported PTINo arrest has been made in the case which has been transferred to the Economic Offences Wing EOW of Mumbai crime branch the official said reported PTIIn another case Mumbai Polices crime branch on Wednesday arrested the main accused wanted since 2020 for allegedly cheating investors to the tune of Rs 190 crore by promising them hefty returns on their investments under various schemes an official said reported PTIThe accused Jayant Sanjeeva Shetty 59 was apprehended by officials of unit 11 of the crime branch from Goregaon west in the evening he said reported PTIShetty is the main accused who was wanted in a cheating case registered with the Economic Offences Wing EOW of Mumbai Police in 2020 the official said reported PTIShetty was one of the directors of Shri Ramajenia Leasing and Finance Pvt Ltd The firm offered various investment schemes promising attractive returns from 2012 to 2017 and hundreds of people invested their money reported PTIHowever the firm allegedly didnt return any money to the investors he said adding that it was a scam of at least Rs 190 crore reported PTIMumbai Police had registered an FIR based on complaints lodged under various sections of the Indian Penal Code for cheating and criminal breach of trust and the Maharashtra Protection of Interest of Depositors In Financial Establishments Act at Malad police station The investigation was subsequently transferred to the Economic Offences Wing reported PTIAfter the FIR was registered Jayant Shetty went into hiding the official said adding that teams of EOW were on his huntBased on specific information a team of EOWs MPID unit came to know about the whereabouts of ShettyThey shared information with unit 11 of the crime branch and a trap was laid for 48 hours near a building in Jawahar Nagar area of Goregaon west and Shetty was apprehended the official said reported PTIHe was arrested by the polices EOW and further investigation is underwayWith inputs from PTI